Economics of Imperfect Information Archives

Efficiency of the Market and Imperfect People

by Yash DubeyOctober 16, 2023July 24, 20250

Discover the real market – where people learn, adapt, and innovate. Contrasting textbook economics, this article delves into the dynamic world of entrepreneurship and human evolution in commerce.

Microeconomics Foundations: Comprehensive Study Guide (Chapters 1-5)
By admin
July 24, 2025
This study guide provides core microeconomic theory and analysis across five chapters (The Economic Problem: Scarcity and Choice; Production Possibility Curve, Choice and Opportunity Cost; Demand and Its Law; Marshall’s Cardinal Utility Analysis; and Indifference Curve Analysis) for students seeking mastery of fundamental concepts. […]
A Message to Modern Economics Academia Based on the Hayekian Line
By Yash Dubey
February 2, 2024
In a Hayekian critique, modern economics academia is urged to reconsider its reliance on mathematical models and econometrics. Hayek's emphasis on the complexity of economic phenomena and the limitations of predictive techniques challenges traditional approaches. A more humble and interdisciplinary approach is advocated for a deeper understanding of real-world economics. […]
Know the Great: F.A. Hayek
By Yash Dubey
January 10, 2023
Freidrich von August Hayek was an Austrian Economist who was a very known figure in the economics profession until 1950 […]
Entrepreneurship in Economy and Economics
By Yash Dubey
February 18, 2023
This article will explore the concept of entrepreneurship in the market system, examining the theories of Adam Smith, Israel Kirzner, and Schumpeter. […]
Hoppe’s Hopeless Take On Knowledge Problem
By Yash Dubey
February 21, 2023
Hans Herman Hoppe is a renowned Austrian economist. Despite being from the same school of thought, he has been a regular critic of Hayek. Hayek’s probable most important discovery is the “knowledge problem” which says a single person cannot have all knowledge to make decisions as knowledge is dispersed and decentralized. Being on Mises’s side in the Socialist Calculation Debate, Misesians don’t favor Hayek’s argument and see it as not important for the debate. […]