This paper reconstructs the history of experimental research on riskless choices during the period 1930-70. The experiments considered here regarded the derivation of indifference curves and the evaluation of the transitivity assumption, that is, matters that in neoclassical economics...

Two stories currently circulate regarding Frank Knight's relationship to the Chicago School of Economics. The first is a story of tradition, emphasizing the continuity of Chicago economics; the other emphasizes the new beginnings in the post-war period. The second story even implies that the...

The emergence of transaction cost economics (TCE) in the early 1970s with Oliver Williamson’s successful reconciliation of the socalled neoclassical approach with Herbert Simon’s organizational theory can be considered an important part of the first cognitive turn in economics. The...

A system of thought allowed for the free market price of land to cyclically go down to zero. This is the economics of Moses. The economics of Jesus is a restatement of the economics of Moses. The first was applied during Biblical times and the latter, united with Aristotle’s thought and...

This paper is a survey of the literature on theoretical models of the household, paying particular attention to some of the earlier contributions, and using them to place the current state of the theory in perspective. One of its aims is to suggest that the literature's neglect of Samuelson's...

F. A. Hayek took two trips to Chile, the first in 1977, the second in 1981. The visits were controversial. On the first trip he met with General Augusto Pinochet, who had led a coup that overthrew Salvador Allende in 1973. During his 1981 visit, Hayek gave interviews that were published in the...

Based on the correspondence between Paul Samuelson, Leonard Jimmie Savage, Milton Friedman and Jacob Marschak between May and September 1950, the article reconstructs the joint intellectual journey that led Samuelson to accept expected utility theory and Savage to revise his initial motivations...