ABSTRACT

The theory of the firm has recently undergone a dramatic transformation, drawing heavily on the pathbreaking work of Armen Alchian. This volume explores his contribution to the debate, including essays by Harold Demetz, Ben Klein, Jerry Jordan and Art Devany.

chapter |3 pages

Introduction

Armen A. Alchian's influence on economics

chapter 2|20 pages

Information, Chance, and Evolution

Alchian and the economics of self-organization

chapter 3|23 pages

Evolution and Spontaneous Uniformity

Evidence from the evolution of the limited liability company

chapter 4|24 pages

Why Hold-Ups Occur

The self-enforcing range of contractual relationships *

chapter 6|16 pages

Appropriable Rents from Yellowstone Park

A case of incomplete contracting

chapter 7|27 pages

Cultural Evolution and Constitutional Public Choice

Institutional diversity and economic performance on American Indian reservations

chapter 10|16 pages

Discovery Factors of Economic Freedom

Respondence, epiphany, and serendipity