Value and Exchange

To analyze the feasibility of applying the Coase Theorem, this article uses two traditional arguments, economic calculation and non-neutral effects, found in the Austrian literature. 

Supporters of Kaldor-Hicks believe it useful to have a quantitative measure to assess the efficiency of different situations.  Although it may appear convenient to be able to judge policies

In this paper I clarify the long-running debate between Block and Demsetz over the potential impact of psychic income on the Coase Theorem. Each of the protagonists appear to have erred on how to integrate

Transitivity in economics maintains that if a is preferred to b, and b to c, then a must also be preferred to c. 

Neoclassical utility functions are an invalid means of analyzing consumer behavior for three reasons: first, and most important, because such functions, and their attendant rankings, are cardinal, not ordinal in nature; 

We examine the strict preference approach to the interpretation of human action and the assertion that a choice cannot be made between actions in which the actor is indifferent to the outcomes.

The influence of moral philosophy on the rise of laissez faire is a topic that several scholars have examined.

Over the span of one hundred and fifty years, dissatisfaction with one or more of the fundamental postulates of theoretical economics has given imp

Fueled by almost frantic efforts to adjust and adapt in the face of intense inter- national competition, American industry undertook an immense cor

One of the most important areas in which Cantillon influenced J. B.