Prínos Josepha E. Stiglitza nositeľa Nobelovej ceny za ekonómiu k rozvoju ekonomickej vedy

Year, pages: 2005, 695 - 709

Joseph Stiglitz stressed the fact that in classical or neoclassical market models the key component is the assumption that the market is perfect. Buyer and seller have the same power and chance to get satisfactory price. The real market, though, is not perfect. On the one side there are subjects with privileges whereas on the other there are participants which are aggrieved. According to Stiglitz this unequal access to information as well as different positions of market participants are characteristic for the real market. His important contribution is the explanation of the fact why prices and wages can remain on non-steady levels in the long run – they are rigid. He layed out some alternative theoretical explanations of this phenomenon. He suggests to define a macroeconomic theory based on theories of imperfect competition and imperfect information.

Martincová, M. 2005. Prínos Josepha E. Stiglitza nositeľa Nobelovej ceny za ekonómiu k rozvoju ekonomickej vedy. In Ekonomický časopis/Journal of Economics, vol. 53, no.7, pp. 695-709. 0013-3035.

Martincová, M. (2005). Prínos Josepha E. Stiglitza nositeľa Nobelovej ceny za ekonómiu k rozvoju ekonomickej vedy. Ekonomický časopis/Journal of Economics, 53(7), 695-709. 0013-3035.