Title page for ETD etd-04072010-020345


Type of Document Dissertation
Author Arnold, Roger A.
URN etd-04072010-020345
Title The efficiency properties of institutional evolution :with particular reference to the social-philosophical works of F.A. Hayek
Degree PhD
Department Economics
Advisory Committee
Advisor Name Title
Buchanan, James M. Committee Chair
Faith, Roger L. Committee Member
Tideman, Thorwald Nicolaus Committee Member
Tollison, Robert D. Committee Member
Tullock, Gordon Committee Member
Keywords
  • institution growth
Date of Defense 1979-01-07
Availability restricted
Abstract

Evolution, unhampered and unconstrained, does not always generate efficient and desirable institutional forms. The evolutionary process is just as likely to lead one to the (inefficient) lower-right hand box in the prisoners' dilemma game as it is to lead one to the (efficient) upper-left hand box. Once this is noted, and accepted, the myth that "emergence means efficiency: is finally ejected from the economists' and social philosophers' list of beliefs. Then, finally, the important work of :improving: institutions orders-outcomes can commence on a larger scale.

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