The ways in which culture colors economic action has become an important question within economics. Austrian economists are particularly poised to contribute to this discussion because of their belief that economics is a science driven by the values, social relations and the belief systems of...

In 1994, the Nobel Prize was awarded to Reinhard Selten, John Nash and John Harsanyi, for pioneering analysis in game theory. Selten was the first to refine the Nash equilibrium concept of non-cooperative games for analysing dynamic strategic interaction and to apply these concepts to analyses...

This timely book reveals that the budget deficits and accumulating debts that plague modern democracies reflect a clash between two rationalities of governance: one of private property and one of common property. The clashing of these rationalities at various places in society creates forms of...

Pollution, alternative fuels, congestion, intelligent transportation systems, and the shift from construction to maintenance all call for a reconsideration of the existing highway revenue mechanisms, especially the gas tax. David Levinson explores the fundamental theoretical basis of highway...

This collection of important previously published articles reflects the vigorous implementation of privatization in Europe and the deregulation in the United States over the last quarter century. The evolution of the movements is described, both intellectually and politically. Deregulation and...

Intelligent Transportation Systems (ITS) are expected to add considerable productivity to existing transportation infrastructure and to therefore partially reduce the need for more physical infrastructure such as additional lanes of roadway. But there are huge barriers to achieving this vision...