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James M. Buchanan, Gary S. Becker, Daniel Kahneman and Vernon L. Smith
This groundbreaking series brings together a critical selection of key papers by the Nobel Memorial Laureates in Economics that have helped shape the development and present state of economics. The editors have organised this comprehensive series by theme and each volume focuses on those Laureates working in the same broad area of study. The careful selection of papers within each volume is set in context by an insightful introduction to the Laureates’ careers and main published works. This landmark series will be an essential reference for scholars throughout the world.
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Critical Acclaim
Contributors
Contents
More Information
This groundbreaking series brings together a critical selection of key papers by the Nobel Memorial Laureates in Economics that have helped shape the development and present state of economics. The editors have organised this comprehensive series by theme and each volume focuses on those Laureates working in the same broad area of study. The careful selection of papers within each volume is set in context by an insightful introduction to the Laureates’ careers and main published works. This landmark series will be an essential reference for scholars throughout the world.
Critical Acclaim
‘What a brilliant idea! To provide readers with both information on the Nobel Laureates in Economics and, to the degree possible, the original papers for which they were honored. The names of the “contributing” Laureates speak for themselves. Howard Vane and Chris Mulhearn, the editors, and Edward Elgar, the publisher, are to be congratulated for putting the idea into effect.’
– Warren J. Samuels, Michigan State University, US
‘These volumes complement Vane and Mulhearn’s critically acclaimed book, The Nobel Memorial Laureates in Economics, and are an indispensable guide to key developments in modern economics.’
– The late Mark Blaug, formerly of the University of London and University of Buckingham, UK
‘The nature, content and boundaries of economics are changing. There is no better way of examining the key contributions that have shaped the discipline in the last half century than by looking at the pioneering works of the Nobel Laureates in Economics. These volumes not only provide a treasure house of material of high intrinsic worth, but also help us to understand what kind of approaches and ideas have been successful in persuading other economists, and thereby provide valuable material for understanding the evolution of the discipline. The idea behind this series of volumes is brilliant.’
– Geoffrey M. Hodgson, University of Hertfordshire Business School, UK
– Warren J. Samuels, Michigan State University, US
‘These volumes complement Vane and Mulhearn’s critically acclaimed book, The Nobel Memorial Laureates in Economics, and are an indispensable guide to key developments in modern economics.’
– The late Mark Blaug, formerly of the University of London and University of Buckingham, UK
‘The nature, content and boundaries of economics are changing. There is no better way of examining the key contributions that have shaped the discipline in the last half century than by looking at the pioneering works of the Nobel Laureates in Economics. These volumes not only provide a treasure house of material of high intrinsic worth, but also help us to understand what kind of approaches and ideas have been successful in persuading other economists, and thereby provide valuable material for understanding the evolution of the discipline. The idea behind this series of volumes is brilliant.’
– Geoffrey M. Hodgson, University of Hertfordshire Business School, UK
Contributors
24 articles, dating from 1949 to 1990
Contents
Contents:
Acknowledgements
General Introduction Howard R. Vane and Chris Mulhearn
PART I JAMES M. BUCHANAN
Introduction to Part I: James M. Buchanan (b. 1919)
1. James M. Buchanan (1949), ‘The Pure Theory of Government Finance: A Suggested Approach’
2. James M. Buchanan (1954a), ‘Social Choice, Democracy, and Free Markets’
3. James M. Buchanan (1954b), ‘Individual Choice in Voting and the Market’
4. James M. Buchanan (1959), ‘Positive Economics, Welfare Economics, and Political Economy’
5. James M. Buchanan and Gordon Tullock (1962), ‘A Generalized Economic Theory of Constitutions’
6. James M. Buchanan (1987), ‘The Constitution of Economic Policy’
PART II GARY S. BECKER
Introduction to Part II: Gary S. Becker (b. 1930)
7. Gary S. Becker (1962), ‘Investment in Human Capital: A Theoretical Analysis’
8. Gary S. Becker (1965), ‘A Theory of the Allocation of Time’
9. Gary S. Becker (1968), ‘Crime and Punishment: An Economic Approach’
10. Gary S. Becker (1974), ‘A Theory of Social Interactions’
11. Gary S. Becker (1983), ‘A Theory of Competition Among Pressure Groups for Political Influence’
12. Gary S. Becker and Kevin M. Murphy (1988), ‘A Theory of Rational Addiction’
PART III DANIEL KAHNEMAN
Introduction to Part III: Daniel Kahneman (b. 1934)
13. Amos Tversky and Daniel Kahneman (1973), ‘Availability: A Heuristic for Judging Frequency and Probability’
14. Amos Tversky and Daniel Kahneman (1974), ‘Judgment Under Uncertainty: Heuristics and Biases’
15. Daniel Kahneman and Amos Tversky (1979), ‘Prospect Theory: An Analysis of Decision Under Risk’
16. Daniel Kahneman and Amos Tversky (1984), ‘Choices, Values, and Frames’
17. Daniel Kahneman, Jack L. Knetsch and Richard H. Thaler (1986), ‘Fairness as a Constraint on Profit Seeking: Entitlements in the Market’
18. Daniel Kahneman, Jack L. Knetsch and Richard H. Thaler (1990), ‘Experimental Tests of the Endowment Effect and the Coase Theorem’
PART IV VERNON L. SMITH
Introduction to Part IV: Vernon L. Smith (b. 1927)
19. Vernon L. Smith (1962), ‘An Experimental Study of Competitive Market Behavior’
20. Vernon L. Smith (1964), ‘Effect of Market Organization on Competitive Equilibrium’
21. Vernon L. Smith (1965), ‘Experimental Auction Markets and the Walrasian Hypothesis’
22. Vernon L. Smith (1976), ‘Experimental Economics: Induced Value Theory’
23. Vernon L. Smith (1980), ‘Experiments with a Decentralized Mechanism for Public Good Decisions’
24. Vernon L. Smith (1982), ‘Microeconomic Systems as an Experimental Science’
Acknowledgements
General Introduction Howard R. Vane and Chris Mulhearn
PART I JAMES M. BUCHANAN
Introduction to Part I: James M. Buchanan (b. 1919)
1. James M. Buchanan (1949), ‘The Pure Theory of Government Finance: A Suggested Approach’
2. James M. Buchanan (1954a), ‘Social Choice, Democracy, and Free Markets’
3. James M. Buchanan (1954b), ‘Individual Choice in Voting and the Market’
4. James M. Buchanan (1959), ‘Positive Economics, Welfare Economics, and Political Economy’
5. James M. Buchanan and Gordon Tullock (1962), ‘A Generalized Economic Theory of Constitutions’
6. James M. Buchanan (1987), ‘The Constitution of Economic Policy’
PART II GARY S. BECKER
Introduction to Part II: Gary S. Becker (b. 1930)
7. Gary S. Becker (1962), ‘Investment in Human Capital: A Theoretical Analysis’
8. Gary S. Becker (1965), ‘A Theory of the Allocation of Time’
9. Gary S. Becker (1968), ‘Crime and Punishment: An Economic Approach’
10. Gary S. Becker (1974), ‘A Theory of Social Interactions’
11. Gary S. Becker (1983), ‘A Theory of Competition Among Pressure Groups for Political Influence’
12. Gary S. Becker and Kevin M. Murphy (1988), ‘A Theory of Rational Addiction’
PART III DANIEL KAHNEMAN
Introduction to Part III: Daniel Kahneman (b. 1934)
13. Amos Tversky and Daniel Kahneman (1973), ‘Availability: A Heuristic for Judging Frequency and Probability’
14. Amos Tversky and Daniel Kahneman (1974), ‘Judgment Under Uncertainty: Heuristics and Biases’
15. Daniel Kahneman and Amos Tversky (1979), ‘Prospect Theory: An Analysis of Decision Under Risk’
16. Daniel Kahneman and Amos Tversky (1984), ‘Choices, Values, and Frames’
17. Daniel Kahneman, Jack L. Knetsch and Richard H. Thaler (1986), ‘Fairness as a Constraint on Profit Seeking: Entitlements in the Market’
18. Daniel Kahneman, Jack L. Knetsch and Richard H. Thaler (1990), ‘Experimental Tests of the Endowment Effect and the Coase Theorem’
PART IV VERNON L. SMITH
Introduction to Part IV: Vernon L. Smith (b. 1927)
19. Vernon L. Smith (1962), ‘An Experimental Study of Competitive Market Behavior’
20. Vernon L. Smith (1964), ‘Effect of Market Organization on Competitive Equilibrium’
21. Vernon L. Smith (1965), ‘Experimental Auction Markets and the Walrasian Hypothesis’
22. Vernon L. Smith (1976), ‘Experimental Economics: Induced Value Theory’
23. Vernon L. Smith (1980), ‘Experiments with a Decentralized Mechanism for Public Good Decisions’
24. Vernon L. Smith (1982), ‘Microeconomic Systems as an Experimental Science’