Who Listened? Unappreciated Teachings of the New Institutional Economics Related to the Financial Crisis of 2008

Who was listening before the Financial Crisis of 2008 to Arrow's warnings and the teachings of Coase? Due to transaction costs, incomplete foresight and bounded rationality not all risks that would be desirable to shift can be shifted through the market. Financial firms and other institutions take on part of the burden. To expand the frontier of risk trading requires institutional answers - in particular new forms of credible commitments. Improvements in information technology alone do not do the trick

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Year of publication:	2011
Authors:	Richter, Rudolf
Publisher:	[2011]: [S.l.] : SSRN
Subject:	Finanzkrise \| Financial crisis \| Neue Institutionenökonomik \| New institutional economics \| Finanzmarktregulierung \| Financial market regulation \| Internationaler Finanzmarkt \| International financial market \| Kritik \| Criticism \| Wirkungsanalyse \| Impact assessment
Description of contents:	Abstract [papers.ssrn.com]

Extent:	1 Online-Ressource
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Kredit und Kapital, Vol. 42, pp. 478-486, 2009 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 14, 2009 erstellt Volltext nicht verfügbar
Classification:	D40 - Market Structure and Pricing. General ; E40 - Money and Interest Rates. General ; E44 - Financial Markets and the Macroeconomy ; G21 - Banks; Other Depository Institutions; Mortgages ; G28 - Government Policy and Regulation ; G29 - Financial Institutions and Services. Other
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013126899