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Economics of Information: The New Paradigm and Its Limits

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  • J. Sapir

Abstract

The article considers historical development and scientific achievements of informational approach in economic theory. The author’s research is devoted to different versions of economic analysis using theory of asymmetric information. Positive and normative contradictions emerging from differences between economics of information and neoclassical theory are examined. Special attention is paid to internal problems of the new paradigm as well as to the role of state-governed economic policy based on theoretical implications of informational approach.

Suggested Citation

  • J. Sapir, 2005. "Economics of Information: The New Paradigm and Its Limits," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 10.
    • Handle: RePEc:nos:voprec:y:2005:id:1503
    DOI: 10.32609/0042-8736-2005-10-4-24
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