Knowledge about property rights is a commons that facilitates market exchange and economic coordination. The governance of that shared knowledge resource—the various formal and informal rules that maintain ledgers of property rights—ranges from community norms to formal state registries. In...

Innovation is sometimes perceived as a linear and sequential process, and at other times as multidimensional. Based on the common thread of ‘awareness’ that grounds many theories on innovation, we analyze the idea that a flexible informational awareness accounts for both perceptions within...

An economy is a coordinated system of distributed knowledge. Economic evolution occurs as knowledge grows and the structure of the system changes. This paper is about the role of markets in this process. Traditionally, the theory of markets has not been a central feature of evolutionary...

All industries are based upon a core of knowledge. Economic evolution is the growth of this knowledge as an experimental and path-dependent process involving markets, firms, finance, entrepreneurship, and often substantial uncertainty. In the set of industries associated with information...

A supercluster of economically useful and powerful new digital technologies (crypto, generative AI, AR/VR, IoT, et al.) have arrived all at once in the past decade. These technologies are disrupting economic organisation and institutions (e.g. money, contracting, administration, choice). The...