Decision-Taking Inertia and Uncertainty

Gordon Pepper
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Gordon Pepper: Department of Banking and Finance, City University Business School

Chapter 5 in Money, Credit and Asset Prices, 1994, pp 46-47 from Palgrave Macmillan

Abstract: Abstract This chapter is even briefer than the last one but the subject matter is sufficiently important to warrant separate treatment. Markets are not ‘perfect’ as many economists suppose. Decision taking inertia in conditions of uncertainty is an important reason why the balance between supply and demand does not merely determine prices but has effects independent of the price mechanism.

Date: 1994
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DOI: 10.1057/9780230375932_6

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