The efficiency properties of institutional evolution: with particular reference to the social-philosophical works of F. A. Hayek

In an overall sense, the purpose of this study is to examine closely the evolutionary process with respect to institutional evolution. The position which holds that the evolutionary process generates efficient institutional forms is seen to be dependent upon a certain set of conditions being met. In the more general case, however, the evolutionary process oftentimes generates outcomes that are unintended, inefficient, and undesirable; consequently placdng man in what has been referred to as a “social dilemma." At base, this outcome is a result of simple utility maximization on the part of individuals. Policy prescriptions and attitudes towards policy are likely to change once this is noted and understood.

Name thesis:degree_name

Ph. D.

Level thesis:degree_level

doctoral

Discipline thesis:degree_discipline

Economics

Department dc:contributor.department

Economics

Grantor dc:publisher

Virginia Tech

Year dc:date.issued

1979

Author dc:creator

• Arnold, Roger A.

Chair dc:contributor.committeechair

• Buchanan, James M.

Committee members dc:contributor.committeemember

• Tullock, Gordon
• Tideman, Nicolaus
• Tollison, Robert D.
• Faith, Roger L.

• institution growth

Statement dc:rights

• In Copyright

Licence dc:rights.uri

• http://rightsstatements.org/vocab/InC/1.0/

Language dc:language.iso

en

Dc Identifier Other

etd-04072010-020345

OAI identifier oai:identifier

oai:vtechworks.lib.vt.edu:10919/37583