Property Rights, Consumption and the Market Process

by David Emanuel Andersson

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 • 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.

192 pages, Hardcover

First published December 31, 2008