Harold Demsetz Quote

Modern analysis has yet to describe inefficiency in a world where indivisibilities are present and knowledge is costly to produce.


p. 19; cited in: Eggertsson (1990; 23) - "Information and Efficiency: Another Viewpoint." (1969)


Modern analysis has yet to describe inefficiency in a world where indivisibilities are present and knowledge is costly to produce.

Modern analysis has yet to describe inefficiency in a world where indivisibilities are present and knowledge is costly to produce.

Modern analysis has yet to describe inefficiency in a world where indivisibilities are present and knowledge is costly to produce.

Modern analysis has yet to describe inefficiency in a world where indivisibilities are present and knowledge is costly to produce.