Abstract
This chapter is even briefer than the last one but the subject matter is sufficiently important to warrant separate treatment. Markets are not ‘perfect’ as many economists suppose. Decision taking inertia in conditions of uncertainty is an important reason why the balance between supply and demand does not merely determine prices but has effects independent of the price mechanism.
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© 1994 Gordon Pepper
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Pepper, G. (1994). Decision-Taking Inertia and Uncertainty. In: Money, Credit and Asset Prices. Palgrave Macmillan, London. https://doi.org/10.1057/9780230375932_6
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DOI: https://doi.org/10.1057/9780230375932_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-39107-3
Online ISBN: 978-0-230-37593-2
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