PRICING, VALUATION AND SYSTEMS

Marc R. Tool

in Books from Edward Elgar Publishing

Abstract: Pricing, Valuation and Systems reintroduces American neoinstitutional economics as an alternative to the neoclassical orthodoxy. Neoinstitutionalism, Professor Tool argues, provides a pragmatic analysis that confirms that most prices and costs are set by empowered discretionary agents, not by impersonal free markets. Similarly, the institutional fabric of contemporary economic systems is shown to be defined by agents with power, not natural laws or ‘ism’ models.

Keywords: Economics and Finance (search for similar items in EconPapers)
JEL-codes: D7 (search for similar items in EconPapers)
Date: 1995
ISBN: 9781852789763
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