Editing Dispersed knowledge (section)

{{short description|Information that is spread throughout the market and not in the hands of a single agent}}
'''Dispersed knowledge''' in [[economics]] is the notion that no single [[Agent (economics)|agent]] has information as to all of the factors which influence [[prices]] and [[Production (economics)|production]] throughout the system.<ref>{{Cite journal|jstor=1809376|title = The use of knowledge in society|last = Hayek|first = Friedrich|date = 1 September 1945|journal = The American Economic Review|volume = 35|issue=4|pages = 519–530|issn = 0002-8282}}</ref> The term has been both expanded upon and popularized by American economist [[Thomas Sowell]].<ref>{{Cite journal|title=Book review: Knowledge and Decisions by Thomas Sowell - LessWrong|url=https://www.lesswrong.com/posts/tF4Ftx9b7pa3dEPBu/book-review-knowledge-and-decisions-by-thomas-sowell|access-date=2022-02-02|website=www.lesswrong.com}}</ref>