4 citations · 4 across the 1 of their papers we have counts for
4 papers
Classical Economics: Lost and Found
Sabiou Inoua, Vernon Smith
"Economists miss the boat when they act as if Arrow and Debreu's general equilibrium model accurately describes markets in the real world of constant change. In contrast, the class…
The Classical Theory of Supply and Demand
Sabiou Inoua, Vernon Smith
This paper introduces and formalizes the classical view on supply and demand, which, we argue, has an integrity independent and distinct from the neoclassical theory. Demand and su…
Adam Smith's Theory of Value: A Reappraisal of Classical Price Discovery
Sabiou Inoua, Vernon Smith
The relevance of Adam Smith for understanding human morality and sociality is recognized in the growing interest in his work on moral sentiments among scholars of various academic…
A Classical Model of Speculative Asset Price Dynamics
Sabiou Inoua, Vernon Smith
In retrospect, the experimental findings on competitive market behavior called for a revival of the old, classical, view of competition as a collective higgling and bargaining proc…