Investment and Production. A Study in the Theory of the Capital-Using Enterprise.

£150 · Offered by Maggs Bros Ltd

The first book by the Nobel Prize winning American economist Vernon Lomax Smith in which he attempted to provide an integrated solution to the theories of investment and production. Smith was awarded the 2002 Nobel Prize in Economics for his pioneering work on the methodology of laboratory experiments in economics. ’He is a remarkable scholar and a true pioneer in the quest to understand market institutions (such as auction mechanisms) and nonmarket institutions (such as bargaining rules), as well as the structure and motivation of individual behaviour. His methodological contributions helped overturn the traditional notion of economics as an inherently non-experimental science’ (New Palgrave).

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