The market thrives on mistakes - your loss is my gain - while the state bureaucracy works on asymmetric rewards. Photo: AP

Why markets can, and should, be better designed

Andrew Sheng says new insights into how markets evolve and adapt challenge simplistic economic orthodoxy and contribute to thinking on how to avert failure

The market thrives on mistakes - your loss is my gain - while the state bureaucracy works on asymmetric rewards. Photo: AP
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