Knowledge about property rights is a commons that facilitates market exchange and economic coordination. The governance of that shared knowledge resource—the various formal and informal rules that maintain ledgers of property rights—ranges from community norms to formal state registries. In...

Friedrich Hayek (1937, 1945) explained that scholars engage in fantasy when they presume that they, or anyone for that matter, presume to possess the knowledge necessary to construct some societal equilibrium. That knowledge is incapable of being possessed by a single mind, which means that the...

We begin with an economic model of science according to which signals concerning scientific reputation both serve to coordinate the plans of individuals in the scientific domain and ensure that the knowledge that emerges from interactions between scientists and the environment is reliable...

We analyze the development of the German knowledge base measured by co-classifications of patents by German inventors and relate this technological development to changes in the structure of the underlying inventor networks. Our central hypothesis states that technologies which become more...

There is wide consensus that entrepreneurial talent lies in the ability to discover and exploit market opportunities by taking the relevant risky decisions. By determining the nature of the discovery and exploitation processes, institutions and technology play an essential role in shaping...

Aufbauend auf neueren und älteren Forschungsergebnissen zum Einfluss von ÖkonomInnen auf politische Entscheidungsprozesse und mediale wirtschaftspolitische Debatten wird in diesem Beitrag ein eklatantes politökonomisches Machtungleichgewicht unter einflussreichen ökonomischen ExpertInnen...

It is hard to find a book that explains, simply and fairly, what capitalism is, how it works, and its strengths and weaknesses. The very word capitalism was coined as a term of abuse. And still today, most books on the subject remain hostile to capitalism, or paint a distorted, confused picture...