Rules and Choice in Economics

Essays in Constitutional Political Economy

By: Viktor J Vanberg

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Hardcover | 8 December 1994 | Edition Number 1

At a Glance

Hardcover
320 Pages

Dimensions(cm)
23.4 x 15.6 x 1.91

Hardcover

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"Rules and Choice in Economics" is concerned with how the rules and institutions which are the basis of cooperation in society can be systematically explained. Economics, with its emphasis on individual choice, seems unable to account for individuals following rules when it is not in their interest to do so. Sociology, which can explain such rule-following behavior, struggles to account for purposeful individual action.
In the place of these models, Viktor J. Vanberg offers an account which cuts across traditional disciplinary boundaries. Analyzing the work of thinkers including Hayek, Rawls, Nozick and Coleman, Vanberg addresses issues such as rational choice, rule following behavior, self-interest and morality.
The book pays particular attention to a comparison of Hayek's evolutionary liberalism and Buchanan's contractarian liberalism. Taken together the various parts of the volume represent a coherent theoretical argument about why institutions cohere and why they change.

Industry Reviews

"With "Rules and Choice in Economics, Vanberg establishes himself as one of the foremost individualist social theoriests of his generation. There is much to profit from in this volume, and even more intellectual profits are to be reaped by those who pick up his challenge and explore the interplay between the order of rules and the order of actions." -Journal of Economic Behavior and Organiztion "I am sure that the book will have a wide impact. It constitutes one of the most important analytical texts in the revival of modern institutional economics. The careful attention paid to Hayek and to evolutionary themes is especially welcome." -Geoff Hodgson, Cambridge University "The book is a welcome contribution to recent efforts to rethink the behavioral foundations of social science." -"Contemporary Sociology

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