sábado, 2 de agosto de 2003

I don't know about this terrorist market thing...
There's an article here by UC Berkeley information economist Hal Varian defending the Pentagon's project, something not easy given all the attacks it has received.
To me, it is just the proof of what some economists would like the world to be. They study a theory that says that markets converge to equilibrium eventually, and then there you have them wanting to set up markets everywhere. But there's a limit to what a price can tell. And there's information asymmetry as well.

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