Neoclassical Price Theory, Institutions, and the Evolution of Securities Market Organisation
从马歇尔和瓦尔拉斯的价格理论出发，分析其与英美股票市场组织差异的关联，并探讨市场组织是否自然趋向最优，对研究制度演化与市场设计的学者有参考价值。
Despite differences in their price theories both Marshall and Walras explicitly patterned their analyses on an existing institution, the stock exchange. Analysis from this point of view notes that the dissimilarity may be explained by the diverse organisation of their respective national stock markets. It also exposes similarity in their treatment of time and information. This analysis is then used to answer the question of whether there is a natural evolution towards an optimal market organisation by reference to the historical evolution of the New York and London stock markets.