We discuss contract theory from a combined Austrian/new institutional view. In the latter view, the world is seen as shot through with ignorance and transaction costs, but, as a tendency, entrepreneurial activity responds to the problems caused by these. All modeling must critically reflect...

The connection between entrepreneurship and economic organization is an under-researched topic in the economics of organization. This paper argues that key insights of the Austrian school of economics with respect to entrepreneurship and the nature and role of property rights and ownership may...