Linking “adaptive efficiency” with the basic market functions
A new analytical perspective for institution and policy analysis
Dados Bibliográficos
| ID | 13012576 |
|---|---|
| Autores | Ligang Song (0000-0002-5700-2352, Australian National University, autor correspondente), Chérie Simpson (0000-0003-0459-8241, Australian National University) |
| Ano | 2018 |
| Volume | 5 |
| Fascículo | 3 |
| Páginas | 544-557 |
| Data de publicação | 2018-05-23 |
| Peer Reviewed | Sim |
| Open Access | Sim |
| Tipo | ARTICLE |
| Periódico | Asia & the Pacific Policy Studies (JOURNAL) |
| Identificadores do periódico | ISSN: 2050-2680 • E-ISSN: 2050-2680 |
| Editora | Wiley (PUBLISHER • GB) |
| DOI | 10.1002/app5.249 |
| OpenAlex | W2803795737 |
| Idioma | EN |
| Referências citadas | 25 |
This conceptual paper develops a new perspective linking the concept of “adaptive efficiency” with the allocative, discovery and creative functions of the market from an institutional perspective. The efficacy of the adaptive efficiency of market functions in improving economic performance is proposed to be measured by changes in transaction costs. This perspective enables an analysis of the independent and interrelated effects of these functions, provides a more complete understanding of entrepreneurial activities and the efficient allocation of resources, better deals with the central problems of economic system and organisation, namely, adaptation and the coordination of knowledge, and has useful implications for public policy
Adaptation (eye · Allocative efficiency · Complex adaptive system · Database transaction · Economic system · Economics · Industrial organization · Institution · Management science · Market economy · Microeconomics · Perspective (graphical · Public economics · Resource allocation · Sociology · Transaction cost · Computer Science · Economic Growth and Productivity · Economic theories and models · Economic Theory and Institutions
Discovery and the capitalist process
One Economics, Many Recipes
Adam Smith's Political Philosophy
Understanding the Process of Economic Change
Goodbye Washington Consensus, Hello Washington Confusion? A Review of the World Bank's Economic Growth in the 1990s
New Studies in Philosophy, Politics, Economics, and the History of Ideas
Institutions, Institutional Change and Economic Performance
Adam Smith’s Economics
The Theory Of The Leisure Class
Institutions and the Path to the Modern Economy
The Protestant Ethic and the Spirit of Capitalism
The Limitations of Marginal Utility
Uncertainty, Evolution, and Economic Theory
The Creative Response in Economic History
Adam Smith's Political Philosophy
Adaptive Informal Institutions and Endogenous Institutional Change in China
| Velocidade de citação | historical |
|---|---|
| Altamente citado | Não |