What are the policy debates surrounding the size and scope of government from a neoclassical perspective?

Jul 2, 2008 ... major element of standard neoclassical economics‖ (1992, p. ... Other Theorems of Institutional Economics,' Journal of Labor Research, 29. (Spring) ... Postlewaite (1993): “Finite Bubbles with Short Sale Constraints and Asymmetric Information,” Journal of Economic Theory, 61, 206–229. Brunnermeier, M. K. (2001): ... Jan 1, 2024 ... While Arrow is widely acknowledged as a prominent pillar of post-war mathematical economics, previous research has primarily focused on his ... Kurt Dopfer, 'The Phenomenon of Economic Change: Neoclassical vs Schumpeterian Approaches', in: L. Magnusson (Ed.), Evolutionary and Neo-Schumpeterian ... Instead, they see markets as institutions that have evolved to solve information problems. According to Hayek, neoclassical economics got itself into trouble by ... The first possibility is that, by constraining 'useful' to mean 'price-sensitive', conventional (neoclassical) economic theory is too narrow with respect to ... for the relevance of any theory. Moreover, neoclassical research is typically narrowed to questions that are accessible to mathematical modelling; content ... Stock markets must be characterized by imperfect information, so long as information is costly; there is, as Grossman and Stiglitz (1980a) put it, an ... The information economics approach did not supplant the neoclassical model but rather extended it to include an explicit analysis of how information ... Alchian begins Uncertainty, Evolution, and Economic Theory by stating that “[a] modification of economic analysis to incorporate incomplete information and ...