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Hardcover Essays in the Economics of Uncertainty Book

ISBN: 0674265556

ISBN13: 9780674265554

Essays in the Economics of Uncertainty

These three elegant essays develop principles central to the understanding of the diverse ways in which imperfect information affects the distribution of resources, incentives, and the evaluation of economic policy. The first concerns the special role that information plays in the allocation process when it is possible to improve accuracy through private investment. The common practice of hiring "experts" whose information is presumably much better...

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Format: Hardcover

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