The Czech version of this paper can be found at 'http://ssrn.com/abstract=2387418' http://ssrn.com/abstract=2387418The aim of the paper is to set the agency problem into a broad context of New Institutional Economics with an emphasis on historical connections. In the first section, I explain the...

Economic theories of the last decades provide analytical framework within which we can explain institutional conditions for corrupt action. Specialists making economic policy recommendations to resolve this problem use several approaches, the most dominant of which are rent-seeking and agency...

I develop a new and original theoretical concept of productive and destructive institutional entrepreneurship that explains institutional change as being the result of entrepreneurial decision-making. I argue that William Baumol’s (1990) classification of productive, unproductive, and...

Czech Abstract: Je Israel M. Kirzner institucionální ekonom? Přesněji řečeno, tvrdím, že teorie podnikatelského objevování se stává prázdnou bez implicitního předpokladu institucionálního prostředí, které vymáhá soukromé vlastnictví

What is the role of entrepreneurship in economic development from the perspective of neo-austrian and new institutional economics and what is the difference between these approaches? Neo-austrian economists claim that economic development is caused by entrepreneurial discovery. New institutional...