What you're talking about sounds like transaction costs and information asymmetry, which are interesting. Hayek's work is interesting to me, even as someone who would self describe as a socialist.
His decentralized market solution to the economic calculation problem, the information from prices (price signals) tell producers and consumers to increase/decrease supply and demand.
But markets aren't perfectly competitive, there are monopolies. Markets are embedded in societies, they don't exist outside of them. Markets don't guarantee an optimal equilibrium. 50% of R&D spending is by the government.
He also did early work on neural networks, published The Sensory Order in 1952, 3 years after Hebb's The Organization of Behavior