How Markets Transmit Information – The Case of Supermarkets (University of Guelph)
The MEI, in collaboration with FARE, held a conference featuring Professor Pierre Desrochers.
The Austrian School’s explanation of the market as an institution allowing knowledge and information to be exchanged among producers and consumers is one of its most distinctive analytical tools.
This event presented the Austrian view of markets as an information-processing system, and a case study of supermarkets as a model of efficient market processes. Bringing together food products from all over the world to sell them in a single place is one of the logistical marvels of modern market economies. But it is not simply a matter of moving physical things; a crucial part of the process involves exchanging many different kinds of information about consumer demand and about all these products and their distribution.
Pierre Desrochers holds a Ph.D. in geography from the University of Montreal. He is an Associate Professor at the University of Toronto Mississauga’s Department of Geography and an Associate Researcher at the MEI.
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