We argue in this article that constant-quality models like the one used to derive the Alchian-Allen effect are of very limited use in the analysis of the regulation of repugnant goods (morally contested goods ranging from human organs to sex work, pornography, and surrogate motherhood). The...

In this chapter, we present fragments of previously unpublished correspondence between Ludwig Lachmann and G. L. S. Shackle on the nature of institutions. This correspondence allows us to rationally reconstruct a theory of institutions, which extends Lachmann's theoretical work. Shackle pointed...

This paper analyzes the reasons why Jan Tinbergen was initially hostile to the idea of European integration, which he regarded as a poor substitute for an international order. The paper argues that Tinbergen's thought on the international order was crucially shaped by two influences, his...