We begin with an economic model of science according to which signals concerning scientific reputation both serve to coordinate the plans of individuals in the scientific domain and ensure that the knowledge that emerges from interactions between scientists and the environment is reliable...

What can we learn about applied price theory from the Bourgeois Era? In this paper, we contend there are three important lessons that can be extracted from McCloskey's work on the Great Enrichment. First, transaction costs are not constraints, but objects of choice. Second, property rights are...