This paper presents a discussion, and elaborates the significance of, the psychological model of evolutionary economic behaviour contained within the formalism developed by Markey-Towler (2016) for the foundations of economic analysis. A self-contained discussion of the relevant portions of this...

The weak axiom of revealed preference constitutes the basis for neoclassical choice theory. Neoclassical consumer theory can be held to on the basis that the weak axiom upon which it is built is “weak” and has only very reasonable requirements of behaviour. In this paper I demonstrate with a...

In this note we develop principles for forecasting economies viewed as evolving networks formed by individuals acting on the basis of their psychology and social position following Markey-Towler (2016). We review the basic formal apparatus required to understand economies as such before using...

We apply the perspectives of social ontology and the “Brisbane Club” of evolutionary economists to characterise the economics of artificial intelligence technology. We consider the nature of artificial intelligence and defend the notion that it is a technology which seeks to replicate the...

For the past century economists have proposed a suite of theories relating to industrial dynamics, technological change and innovation. There has been an implication in these models that the institutional environment is stable. However, a new class of institutional technologies — most notably...

In this paper we provide a brief survey of the potential of blockchain technology to propel a process of private entrepreneurial discovery of institutions that challenge state hegemony. Entrepreneurs now have access to new tools to develop decentralised private governance across areas which have...

In this paper we apply institutional cryptoeconomics to the information problems in global trade networks, model the incentives under which blockchain-based supply chain infrastructure will be built, and make predictions about the future of supply chain governance. We propose that blockchain...

The EU General Data Protection Regulation (GDPR) is a wide ranging personal data protection regime of greater magnitude than any similar regulation previously in the EU, or elsewhere. In this paper, we outline how the GDPR impacts the value of data held by data collectors before proposing some...

In standard models it is typically taken for granted that preferences are given and defined over the alternatives alone, and the possibility of making a rational choice is a matter of assumption. I generalise this aspect of the economic model so that preferences over alternatives are constructed...

This paper seeks to contribute to institutional theory by providing it with a stronger basis in cognitive and affective psychology. We organise this contribution around the central question of what psychological preconditions must exist for institutions to determine behaviour and order our...