Property Rights, Consumption and the Market Process extends property rights theory in new and exciting directions by combining complementary insights from Austrian, institutional and evolutionary economics. Mainstream economics tends to analyse property rights within a static equilibrium...

1. Introduction -- 2. Evolutionary economics -- 3. Environmental policy and transition management from an evolutionary perspective -- 4. Evolutionary policy for energy innovations -- 5. Case studies -- 6. Summary and conclusions.

Hayek's theory of cultural evolution has always generated controversy. Interest in Hayek's theory, and others' analysis and criticism of it, has been rising of late. This volume urges a reconsideration of Hayeks' theory of evolution and aims to explore the relevance of Hayek's theory for its own...