{"product_id":"9781852789763-pricing-valuation-and-systems","title":"PRICING, VALUATION AND SYSTEMS","description":"\u003cmeta content=\"text\/html; charset=utf-8\" http-equiv=\"Content-Type\"\u003e\u003cp\u003e\u003cspan\u003eEssays in Neoinstitutional Economics\u003cbr\u003ePricing, Valuation and Systems reintroduces American neoinstitutional economics as an alternative to the neoclassical orthodoxy.  The author’s analysis is based upon the instrumental value theory of neoinstitutionalism rather than the utility value theory of neoclassicism.\u003cbr\u003e\u003ci\u003ePricing, Valuation and Systems\u003c\/i\u003e reintroduces American neoinstitutional economics as an alternative to the neoclassical orthodoxy. \u003cp\u003eNeoinstitutionalism, Professor Tool argues, provides a pragmatic analysis that confirms that most prices and costs are set by empowered discretionary agents, not by impersonal free markets.  Similarly, the institutional fabric of contemporary economic systems is shown to be defined by agents with power, not natural laws or ‘ism’ models.  \u003c\/p\u003e\n\u003cp\u003eThe author’s analysis is based upon the instrumental value theory of neoinstitutionalism rather than the utility value theory of neoclassicism.  It challenges the price theory ‘heartland’ of neoclassical theory and the ‘market shock’ approach to restructuring Eastern Europe and offers neoinstitutional alternatives.\u003c\/p\u003e\n\u003cbr\u003e\u003cbr\u003e\u003c\/span\u003e\u003c\/p\u003e","brand":"Rarewaves","offers":[{"title":"Default Title","offer_id":53567287492982,"sku":"9781852789763","price":146.32,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0092\/7504\/8033\/files\/stand_13056194_19696683_20241209024147.jpg?v=1733761718","url":"https:\/\/www.rarewaves.com\/products\/9781852789763-pricing-valuation-and-systems","provider":"Rarewaves.com","version":"1.0","type":"link"}