The hedge-fund manager said that he and his peers basically function as market-based regulators — that they have a financial incentive to expose wrongdoing.
In these conditions, protest and bluster function as marketing tools.
For example: "The market is an extraordinarily efficient mechanism of distribution in a complex society, but it requires a moral framework around it, if it is to function as markets should".
Like many musicians of the post-music era (yes, that's a term I made up), Avicii's songs are extremely popular—"Wake Me Up" has been streamed over 400 million times on Spotify alone but they essentially function as marketing materials meant to help drum up interest in his live shows, which, along with brand endorsements, Billboard estimated earned him $24 million in 2014.
The loss of independent firms that functioned as market makers — like Bear Stearns, Lehman Brothers, Merrill Lynch and Wachovia — has disrupted markets, she said, and so has the continued unwinding of leveraged bets, often packaged as complex derivatives, taken by hedge funds.
Moreover, assuming unrestricted migration and abundant regions, regional competition functions as market competition to provide more satisfactory public services (Tiebout 1956).
To accomplish this imperative task, all components of the GTAP-BIO-AEZ model including production, demand, and supply functions as well as market clearing conditions are revisited.
His mathematical proof that classic markets function as efficiently as Adam Smith had theorized provided the groundwork for his pupil Gérard Debreu to win a Nobel in 1983.
When that happens, the stock market — which is, for most people, the obvious example of how markets work — ceases to function as a market at all.
The shandies had also functioned as markets for local produce.
