"Even though Hayek, in my view, is the leading economic thinker of the 20th century who saw what must be the mainsprin…"

"In the Autumn semester, 1955, I taught Principles of Economics, and found it a challenge to convey basic microeconomi…"

"It is important to remove artificial barriers–stumbling stones, often local in origin and coming from incumbent oppos…"

"Microeconomics, including the study of individual choice and of group choice in market and nonmarket processes, has g…"

"Three precepts are offered to constitute a foundation for the use of laboratory experimental methods in testing hypot…"

"Nonsatiation (Smith, 1976a). Given a costless choice be ween two alternatives which differ only in that the first yie…"

"Complexity. In general individual decision makers must be assumed to have multidimensional values which attach nonmon…"

"Parallelism: Propositions about the behavior of individuals and the performance of institutions that have been tested…"

"In defining a microeconomic system two distinct component elements will be identified: an environment and an institut…"

"Economics as currently learned and taught in graduate school and practiced afterward is more theory-intensive and les…"