Neoclassical Price Theory, Institutions, and the Evolution of Securities Market Organisation
AbstractDespite differences in their price theories, both Alfred Marshall and Leon Walras explicitly patterned their analyses on an existing institution--the stock exchange. Analysis from this point of view notes that the dissimilarity may be explained by the diverse organization of their respective national stock markets. It also exposes similarity in their treatment of time and information. This analysis is then used to answer the question of whether there is a natural evolution towards an optimal market organization by reference to the historical evolution of the New York and London stock markets. Copyright 1995 by Royal Economic Society.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Royal Economic Society in its journal The Economic Journal.
Volume (Year): 105 (1995)
Issue (Month): 429 (March)
Contact details of provider:
Postal: Office of the Secretary-General, School of Economics and Finance, University of St. Andrews, St. Andrews, Fife, KY16 9AL, UK
Phone: +44 1334 462479
Web page: http://www.res.org.uk/
More information through EDIRC
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Dimitri B. Papadimitriou & L. Randall Wray, 2000.
"Minsky's Analysis of Financial Capitalism,"
- Jan Toporowski, 2000. "Monetary Policy in an Era of Capital Market Inflation," Macroeconomics 0004026, EconWPA.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.