In this paper, we investigate the rebuild or repair decision that property owners face after damages caused by catastrophic hurricanes such as Katrina in New Orleans. In particular, we consider how the degree of risk aversion and uncertainty affect the decision-making process. A theoretical...

Bastiat is widely acknowledged as the most effective advocate of free markets, but his status as an economist is widely denied even by prominent Austrian economists who share his literary style and support for liberty. In particular, his theories of value and exchange have been attacked as a...

This highly innovative and intriguing book applies principles of microeconomics to unusual settings to inspire students, teachers and scholars alike in the ‘dismal science'. Leading experts show how economics reaches into the strangest of places and throws light onto the occasionally dark side...

The Elgar Companion to Austrian Economics is a major new reference work which highlights the common ground between all the branches of the school while demonstrating the breadth and diversity within it. The Companion reflects the many areas where Austrian economists have made contributions,...