Economist finds financial inequity distorted centuries-old Spanish water inequality
For generations, economists have viewed markets as the gold standard of efficiency, assuming resources naturally flow to the people who value them most. But new research from the University of Miami Patti and Allan Herbert Business School suggests that assumption can break down when participants can...
Image: Phys.org
For generations, economists have viewed markets as the gold standard of efficiency, assuming resources naturally flow to the people who value them most. But new research from the University of Miami Patti and Allan Herbert Business School suggests that assumption can break down when participants cannot afford to compete on equal footing.
Originally published at Phys.org
