Property Rights, Consumption and the Market Process extends property rights theory in new and exciting directions by combining complementary insights from Austrian, institutional and evolutionary economics. Mainstream economics tends to analyse property rights within a static equilibrium framework. In this book David Andersson reformulates property rights theory as an evolutionary theory of the market process.
Experience, Modelling and Operationality
In this innovative work, Robert Delorme comprehensively explores uncertainty (the irreducibility to numerically measurable probabilities) and ignorance in economics, management and the social sciences through an alternative, systematically built analytical framework. This unique book takes uncertainty and ignorance seriously and addresses them as instances of ‘deep complexity’ (problem situations so deeply ill-structured that they cannot be grasped with the concepts and tools of classical science). Building on the works of Herbert Simon, Heinz von Foerster and John von Neumann, the author develops an alternative framework that encompasses, rather than rejects, the classical framework. The outcome of this novel approach is ‘effective deep complexity’, comprising three aspects: an effective alternative framework, which brings an answer to a fundamental issue on the implications of uncertainty for scientific reasoning; a behavioural theory of deeply ill-structured problem-situations; and a decision-and-action support system.
Hayek’s Theory of Cultural Evolution
Edited by Jürgen G. Backhaus
Hayek’s theory of cultural evolution has always generated controversy. Interest in Hayek’s theory, and others’ analysis and criticism of it, has been rising of late. This volume urges a reconsideration of Hayeks’ theory of evolution and aims to explore the relevance of Hayek’s theory for its own sake and for evolutionary economics more generally.