A behaviour of economic agents in many respects depends on taking into account those conditions that have appeared around them. Traditionally, to such conditions, researchers have referred the uncertainty and factors of the institutional control, often projected on a value of the transaction...

This paper investigates two different approaches to the analysis of institutions using game theory and discusses their methodological and theoretical implications for further research. Starting from von Neumann and Morgenstern's theory, we investigate, how Schotter and Schelling's approaches to...

Carl Menger’s Principles of Economics, published in 1871, is usually regarded as the founding document of the Austrian School of economics. Many of the School’s prominent representatives, including Friedrich Wieser, Eugen Böhm-Bawerk, Ludwig Mises, Hans Mayer, Friedrich August Hayek, Fritz...

Im Folgenden wird untersucht welche Antworten die Wirtschaftswissenschaften auf die Frage geben, welchen Einfluss das Geld in der Gegenwart auf unser Denken und Handeln ausübt. Dabei wird deutlich, dass der Mainstream der Wirtschaftswissenschaften das Geld als einen Denkzwang stets voraussetzt...

The article examines the scientific legacy of the Nobel Prize-winning economist James Buchanan (1919—2013). The focus is on the evolution of his views on constitutional political economy. The article shows the displacement of Buchanan’s preferences from the expansion of inclusiveness of...

Are institutionalism and structuralism compatible or do they confront each other? This article suggests an answer to this question, starting from an analysis of the structuration of these two paradigmatic fields of social sciences. It observes the existence in economics of both structuralist...

Neuroeconomics focuses on brain imaging studies mapping neural responses to choice behavior. Economic theory is concerned with choice behavior but it is silent on neural activities. We present a game theoretic model in which players are endowed with an additional structure - a simple "nervous...

This paper investigates two different approaches to the analysis of institutions using game theory and discusses their methodological and theoretical implications for further research. Starting from von Neumann and Morgenstern's theory, we investigate, how Schotter and Schelling's approaches to...

Several authors have detected a paradigm shift in contemporary science: from a reductionist or mechanicist approach to a holistic or systemic one. This transition in paradigms should be perceptible in several disciplines, starting in biology and extending itself to others areas. In light of the...

Previous discussions concerning the relationship between John Dewey’s pragmatic instrumentalism and institutional economics have focused on Clarence Ayres and on issues of valuation. This paper gives attention to the actual conduct of economic investigations by institutionalists such as Wesley...