This paper provides a rational choice-based analysis of the causes and consequences of surprise events. The paper argues that ignorance may be rational, but nonetheless produce systematic mistakes, inconsistent behavior, and both pleasant and unpleasant surprises. If ignorance and unpleasant...

This paper provides a rational choice-based analysis of the causes and consequences of surprise events. The paper argues that ignorance may be rational, but nonetheless produce systematic mistakes, inconsistent behavior, and both pleasant and unpleasant surprises. If ignorance and unpleasant...

The domain of possible power assignments within a multicameral government is multidimensional and essentially continuous. This allows policymaking authority to be divided in many ways and also allows constitutional exchange to take place along many margins of power. This internal market for...

In the 25-year period between 1960 and 1985, there was a great expansion of welfare state programs throughout the West. The fraction of GDP accounted for by social expenditures doubled in much of Europe and grew by 40ndash;50% in many other OECD nations. After 1985, growth in social insurance...

This paper provides an overview of Buchanan's constitutional political economy, as it emerged over the course of fifty years. This was the field in which James Buchanan devoted the most effort and to which he made the largest contributions. Although the finely grained arguments that he developed...

This paper provides a rational choice-based analysis of the causes and consequences of surprise events. The paper argues that ignorance may be rational, but nonetheless produce systematic mistakes, inconsistent behavior, and both pleasant and unpleasant surprises. If ignorance and unpleasant...

This paper provides a rational choice-based analysis of the causes and consequences of surprise events. The paper argues that ignorance may be rational, but nonetheless produce systematic mistakes, inconsistent behavior, and both pleasant and unpleasant surprises. If ignorance and unpleasant...

This paper provides a rational choice-based analysis of the causes and consequences of surprise events. The paper argues that ignorance may be rational, but nonetheless produce systematic mistakes, inconsistent behavior, and both pleasant and unpleasant surprises. If ignorance and unpleasant...

This paper argues that liberalism helped the West escape from their long-standing rent-extracting regimes and created institutional sources of comparative advantage in trade and economic development. It does so by providing connections between three different literatures: the constitutional...

The economics literature on mercantilism tends to emphasize gold hoarding and external barriers to trade as defining characteristics. However, medieval institutions included a host of internal barriers to trade as well as external ones. High offices were often for sale as were monopoly...