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. This original work
includes many valuable insights and new analysis such as: *
combining Yoram Barzel's theory of property rights, Ludwig
Lachmann's theory of capital, the resource-based view of the firm
and the entrepreneurship theories of Frank Knight, Joseph
Schumpeter and Israel Kirzner * applying Ronald Inglehart's theory
of value change to discontinuities in how imitative behaviour
influences consumer choice * a new distributional perspective on
the Hayekian knowledge problem * a model of consumer choice that
combines lexicographic characteristics and learning processes * a
methodological approach that considers the perceived causal and
evidential utilities of a theory * original empirical material
(hedonic price functions and case studies) and new areas of
application for important computer simulation results. David
Andersson's book will be warmly welcomed by heterodox economists
and new institutional economists, as well as economists of
entrepreneurship studies, regional development and urban planning.
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