What do notaries do? Overcoming asymmetric information in financial markets: the case of Paris 1751

Article Abstract:

Historically, sellers and buyers in markets have been brought together by intermediaries and brokers. In financial markets, it is the job of the broker to gather useful information about investment opportunities, but such specialized services mean that other intermediaries will be unable to offer services of similar value and clients may become reluctant to switch brokers. New research investigates the relationship between clients and brokers and seeks to resolve the problems of asymmetric information by analysing the practices of the notaries of 18th century Paris.

Economic history

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Tying contracts and asymmetric information

Article Abstract:

Tying contracts have a negative image because of the possibility of inefficient price discrimination and many experts believe they should be illegal. New research on tying contracts seeks to challenge their anticompetitive potential and suggests that they may be necessary if the restricted allocation problem is to be solved. Two antitrust cases involving tying contracts, the US American SCM case over electrofax copying machines and the German Meto tagging machine case, are used to support the argument.

Tying agreements, Tying arrangements

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On the emergence of the market pattern

Article Abstract:

The theory of the development of capitalism as outlined in the work of Polyani (1957) is examined to develop theories related to the approach used by occidental society to become a market economy. Adaptations of models from literature on complicated adaptive systems are used to build a fictitious society in which the theories are tested and supported.

Capitalism

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