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The Austrian roots of the economics of institutions

Author

Listed:
  • Pierre Garrouste

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

This paper presents an analysis of the way the Austrian theory of institutions evolved from Menger's main works. It also tries to advance the idea that the economics of institutions, when it deals with the emergence and evolution of rules and norms from interacting individuals, is inspired by Menger's work and more generally by the Austrian analysis of the emergence and evolution of institutions. Recent works in the economics of institutions build on this earlier Austrian work to make it more formalized and testable.

Suggested Citation

  • Pierre Garrouste, 2008. "The Austrian roots of the economics of institutions," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00274166, HAL.
  • Handle: RePEc:hal:cesptp:halshs-00274166
    DOI: 10.1007/s11138-008-0047-3
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    Cited by:

    1. Christopher Coyne & Russell Sobel & John Dove, 2010. "The non-productive entrepreneurial process," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 23(4), pages 333-346, December.

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