Reinventing the Bazaar: A Natural History of Markets
Clear, insightful, and nondogmatic, this book gives us a new appreciation for one of our most ubiquitous institutions.From the wild swings of the stock market to the online auctions of eBay to the unexpected twists of the world's post-Communist economies, markets have suddenly become quite visible. We now have occasion to ask, "What makes these institutions work? How important are they? How can we improve them?"
Taking us on a lively tour of a world we once took for granted, John McMillan offers examples ranging from a camel trading fair in India to the $20 million per day Aalsmeer flower market in the Netherlands to the global trade in AIDS drugs. Eschewing ideology, he shows us that markets are neither magical nor immoral. Rather, they are powerful if imperfect tools, the best we've found for improving our living standards. A New York Times Notable Book.
What people are saying - Write a review
Review: Reinventing the Bazaar: A Natural History of MarketsUser Review - Goodreads
good to remind that prices essentially convey information and that there are various market frictions which can impede information flow. stuck most is that middle managers hoard local information. Read full review
Review: Reinventing the Bazaar: A Natural History of MarketsUser Review - Ami Iida - Goodreads
It is a book that explains the various auction. By applying a game theory, it will explain principle of various auctions. When I really read the book, I had a large amount of harvest about auctions. I get how to think "game theory". Read full review
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