Talk:Market (economics)/Archives/2020

This whole article needs huge revision

I have in my previous edit included a definition of the market. However I think this article is lacking, I will list few reasons,

(1) In multiple places it makes the claim that the market is an organisation where parties engage in exchange. But this is not true, a market is where exchange takes place through the price mechanism. The parametric co-ordination through prices is the defining feature of the market. Just like inside the firm, inside a family exchange takes place, ex: parents give their children food and clothing, but that's not a market. Their is no prices involved.

(2) In the Research section sub section economics. Only ex-ante adverse selection is dealt with. However the two other types of incomplete information paradigms ex-post moral hazard and incomplete contracting has no mentions.

(3) Marketing sub-section does not have any modern research, whether it be from a Neo-classical/orthodox economics perspective or Neo-Marxist perspective.

I will try to correct this. Tinkeringwiki (talk) 18:47, 17 August 2020 (UTC)