This paper is focused on the Hayekian understanding of the operation of the market as the continuous solution of a co-ordination problem in a decentralised decision-making system. The aim is to show the reasons why the solution of this problem is imperfect. These reasons lie, on the one hand, in...

The aim of this paper is to provide an explanation of recent corporate malpractices in terms of individuals’ norm-based behaviour. In particular, it suggests that corporate misbehaviour could be understood in terms of a system-wide explanation grounded in the way in which the market itself...

This paper aims at showing that the disconnection between formal structures and theoretical content in economic model building could lead to undesirable consequences. In this sense, linking formal and verbal contents by means of coherent and relevant interpretations is worth the effort. For it...