Economics and Business

John Kay

in The Business of Economics

Published in print October 1996 | ISBN: 9780198292227
Published online November 2003 | e-ISBN: 9780191596520 | DOI:
 Economics and Business

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This chapter explains why economics has had such a limited impact on business, and what should be done about it. The economics relevant to business is principally that which deals with markets and the interactions of firms, not the economics that deals with macroeconomic forecasting. Advances in the former have not been well documented, and most people are not aware of their existence. This chapter outlines their scope.

Keywords: asymmetric information; business; business strategy; economics; game theory; markets; Structure‐conduct‐performance

Chapter.  2309 words.  Illustrated.

Subjects: Microeconomics

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