Innovation and Equilibrium?
A discussion is given of the problems involved in the formal modeling of the innovation process. The link between innovation and finance is stressed. The nature of how the circular flow of funds is broken and the role of finance in evaluation and control is discussed.
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- Gode, Dhananjay K & Sunder, Shyam, 1993. "Allocative Efficiency of Markets with Zero-Intelligence Traders: Market as a Partial Substitute for Individual Rationality," Journal of Political Economy, University of Chicago Press, vol. 101(1), pages 119-37, February.
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- Koopmans, Tjalling C, 1976. " Concepts of Optimality and Their Uses," Scandinavian Journal of Economics, Wiley Blackwell, vol. 78(4), pages 542-60.
- Koopmans, Tjalling C, 1977. "Concepts of Optimality and Their Uses," American Economic Review, American Economic Association, vol. 67(3), pages 261-74, June.
- Juergen Huber & Martin Shubik & Shyam Sunder, 2007. "Three Minimal Market Games: Theory and Experimental Evidence," Levine's Bibliography 122247000000001480, UCLA Department of Economics.
- Martin Shubik, 1977. "A Theory of Money and Financial Institutions," Cowles Foundation Discussion Papers 462, Cowles Foundation for Research in Economics, Yale University.
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