The Austrian roots of the economics of institutions |
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| Authors: | Pierre Garrouste |
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| Affiliation: | 1. ATOM, Maison des Sciences Economiques, 106-112 boulevard de l’h?pital, 75013, Paris, France
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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. |
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| Keywords: | Menger Austrian tradition Emergence and evolution of the institutions Economics of institutions |
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