Dispersed knowledge

Dispersed knowledge in economics is the notion that no single agent has information as to all of the factors which influence prices and production throughout the system.[1] The term has been both expanded upon and popularized by American economist Thomas Sowell.[2]

  1. ^ Hayek, Friedrich (1 September 1945). "The use of knowledge in society". The American Economic Review. 35 (4): 519–530. ISSN 0002-8282. JSTOR 1809376.
  2. ^ "Book review: Knowledge and Decisions by Thomas Sowell - LessWrong". www.lesswrong.com. Retrieved 2022-02-02.