The Austrian roots of the economics of institutions

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

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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.

Keywords: Austrian tradition; evolution; emergence; institutions (search for similar items in EconPapers)
Date: 2008-12
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Citations: View citations in EconPapers (1)

Published in Review of Austrian Economics, 2008, 21 (4), pp.251-269. ⟨10.1007/s11138-008-0047-3⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00274166

DOI: 10.1007/s11138-008-0047-3

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