Paper
Peter Boettke, Rosolino Candela and Peter Jacobsen: Economic Calculation and Transaction Costs: The Case of the Airline Oversales Auction System
According to Nobel Laureate Edmund Phelps (2013, p. 123), Mises’s critique of economic calculation under socialism renders him the originator of the economic analysis of property rights. In their new paper, NOUS member Peter Boettke, Rosolino Candela, and Peter Jacobsen paper also suggest that implicit to Mises’s impossibility theorem was Read more…