The Need for a Visible Hand: The Irrelevance of the Invisible Hand
In one of the most original papers published in Challenge, Hendrik Van den Berg and Matthew Van den Berg try to determine whether markets are really complete enough to make the invisible hand a relevant concept. They attempt to calculate what proportion of our transactions does qualify. Some might disagree with how they do this, but their effort is worth scrutiny.
||The Need for a Visible Hand: The Irrelevance of the Invisible Hand
55(4), 24-49, DOI: 10.2753/0577-5132550402
||van den Berg, Hendrik; van den Berg, Matthew
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|van den Berg, Hendrik ||Economics