Prices and knowledge: A market-process perspective

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References 135Boudreaux, D.J. (1987) ‘Merger paranoia’, Critical Review 1 (fall): 62–78.Buchanan, A. (1985) Ethics, Efficiency, and the Market, Totowa, N.J.: Rowman &Allanheld.Calsamiglia, X. (1977) ‘Decentralized resource allocation and increasingreturns’, Journal of Economic Theory 14 (April): 263–83.Camacho, A, and Persky, J.J. (1988) ‘The internal organization of complex teams:bounded rationality and the logic of hierarchies’, Journal of EconomicBehavior and Organization 9 (June): 367–80.Cercone, N. and McCalla, G. (eds) (1987) The Knowledge Frontier: Essays in theRepresentation of Knowledge, New York: Springer-Verlag.Coase, R.H. (1937) ‘The nature of the firm’, Economica 4 (N.S., November):386–405.Coddington, A. (1975) ‘Creaking semaphore and beyond: a consideration ofShackle’s “Epistemics and Economics”’, British Journal for the Philosophy ofScience 26 (June): 151–63.Cowen, T. and Fink, R. (1985) ‘Inconsistent equilibrium constructs: the evenlyrotating economy of Mises and Rothbard’, American Economic Review 75(September): 866–9.Dahl, R.A. and Lindblom, C.E. (1953) Politics, Economics, and Welfare, NewYork: Harper & Brothers.Dasgupta, P. (1980) ‘Decentralization and rights’, Economica 47 (May): 107–24.Davis, O. and Whinston, A. (1966) ‘On externalities, information and thegovernment-assisted invisible hand’, Economica 33 (August): 303–18.Demsetz, H. (1969) ‘Information and efficiency: another viewpoint’, Journal ofLaw and Economics 12 (April): 1–22.Dolan, E. (1983) Basic Economics, 3rd edn, Eastbourne: Dryden Press.Dreyfus, H.L. (1979) What Computers Can’t Do: The Limits of ArtificialIntelligence, revised edition, New York: Harper & Row.Dreyfus, H.L. and Dreyfus, Stuart E. (1986) Mind Over Machine: the Power ofHuman Intuition and Expertise in the Era of Computers, New York: FreePress.Fama, E. (1970) ‘Efficient capital markets: a review of theory and empiricalwork’, Journal of Finance 25 (May): 573–85.Farrell, J. (1987) ‘Information and the Coase theorem’, Journal of EconomicPerspectives 1 (fall): 113–29.Fehl, U. (1986) ‘Spontaneous order and the subjectivity of expectations’, inI.M.Kirzner (ed.) Subjectivism, Intelligibility and Economic Understanding,New York: New York University Press.Fisher, F.M. (1970) ‘Quasi-competitive price adjustment by individualfirms: a preliminary paper’, Journal of Economic Theory 2 (June) : 195–206.—— (1983) Disequilibrium Foundations of Equilibrium Economics, Cambridge:Cambridge University Press.Frydman, R. (1982) ‘Towards an understanding of market processes: individualexpectations, learning, and convergence to rational expectations equilibrium’,American Economic Review 72 (September): 652–68.Garrison, R. (1982) ‘Austrian economics as the middle ground: comment onLoasby’, in I.M.Kirzner (ed.) Method, Process, and Austrian Economics,Lexington, Mass.: Lexington Books.
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Prices and knowledge
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ContentsAcknowledgmentsvii1 Introdu
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Chapter 1IntroductionIn recent deca
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Introduction 3to changes, and not a
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6 Prices and knowledgeOUTLINE OF TH
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Chapter 2A theory of the market pro
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10 Prices and knowledgeexistence of
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12 Prices and knowledgebehavior of
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14 Prices and knowledgedisequilibri
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16 Prices and knowledgeresources kn
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18 Prices and knowledgeproduce, bet
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20 Prices and knowledgeimportant in
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22 Prices and knowledgeauxiliary’
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24 Prices and knowledgeSome writers
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26 Prices and knowledgeall practica
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28 Prices and knowledgemarket parti
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30 Prices and knowledgeprices fully
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32 Prices and knowledgeoptimal allo
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34 Prices and knowledgeAn example.
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36 Prices and knowledgeIn this case
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38 Prices and knowledgeequilibrium.
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40 Prices and knowledgethose return
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42 Prices and knowledgeprices in th
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44 Prices and knowledgeThe informat
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46 Prices and knowledgeinformationa
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48 Prices and knowledgeas devices f
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50 Prices and knowledgeIt is probab
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52 Prices and knowledgetrue that in
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54 Prices and knowledgeknowledge st
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56 Prices and knowledgereached in r
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58 Prices and knowledgecorrespond t
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60 Prices and knowledgetake it away
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62 Prices and knowledgecritics of t
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64 Prices and knowledgeto work out
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66 Prices and knowledgebehavior in
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68 Prices and knowledgerich’ worl
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70 Prices and knowledgeThus the sim
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72 Prices and knowledgeSimon calls
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74 Prices and knowledgebelieves tha
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76 Prices and knowledgeIf what is u
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78 Prices and knowledgeoccurring wi
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80 Prices and knowledgecomputationa
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82 Prices and knowledgemaximizing a
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Page 95 and 96: 86 Prices and knowledgeAgain Mises
Page 97 and 98: 88 Prices and knowledgepoint that
Page 99 and 100: 90 Prices and knowledgeand B’s ta
Page 101 and 102: 92 Prices and knowledgecoordination
Page 103 and 104: 94 Prices and knowledgeFinally, the
Page 105 and 106: 96 Prices and knowledgeBefore prese
Page 107 and 108: 98 Prices and knowledgeas will be s
Page 109 and 110: 100 Prices and knowledgeapples in l
Page 111 and 112: 102 Prices and knowledgeThe identif
Page 113 and 114: 104 Prices and knowledgeAs with Sim
Page 115 and 116: 106 Prices and knowledgerealized th
Page 117 and 118: 108 Prices and knowledgedeliberate
Page 119 and 120: 110 Prices and knowledgeframework s
Page 121 and 122: 112 Prices and knowledgeMarkets and
Page 123 and 124: 114 Prices and knowledgeassigned an
Page 125 and 126: 116 Prices and knowledgemain virtue
Page 127 and 128: 118 Prices and knowledgechapter 3 t
Page 129 and 130: 120 Prices and knowledgenoticed, wo
Page 131 and 132: 122 Prices and knowledgeAs a by-pro
Page 133 and 134: 124 Notesmoney, the behavior of arb
Page 135 and 136: 126 Notes14 It is not clear why the
Page 137 and 138: 128 Notes39 See also Hahn (1984a:11
Page 139 and 140: 130 Notestheories of cognition held
Page 141 and 142: 132 Notes3 Economists, Nelson and W
Page 143: ReferencesAkerlof, G.A. (1970) ‘T
Page 147 and 148: 138 ReferencesKihlstrom, R.E. and M
Page 149 and 150: 140 ReferencesOsana, H. (1978) ‘O
Page 151 and 152: 142 Referencesfrontiers of analytic
Page 153 and 154: 144 IndexCercone, N. 79change: and
Page 155 and 156: 146 Index61, 118; on costless infor
Page 157 and 158: 148 Indexmisinformation 55, 57mista
Page 159: 150 IndexVeljanowski, C.G. 43voting
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