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Encyclopedia of Law and Economics pp 92–99Cite as

Austrian Perspectives in Law and Economics

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Abstract

This encyclopedia discusses some of the important representative ideas in the Austrian tradition such as spontaneous orders, individuals coping with decentralized knowledge and uncertainty, coordination, and entrepreneurship. The encyclopedia highlights the essential and distinctive feature of the Austrian school of law and economics is its emphasis on both economic and legal processes. The Austrian emphasis on processes can be applied to both these branches of law and economics: individual behavior within institutions, as well as individual behavior, leading to the emergence of institutions.

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Author information

Authors and Affiliations

  1. Department of Economics, State University of New York, Purchase College, Anderson, NY, USA

    Shruti Rajagopalan

  2. Department of Economics, New York University, New York, NY, USA

    Mario J. Rizzo

Authors
  1. Shruti Rajagopalan
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  2. Mario J. Rizzo
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Corresponding author

Correspondence to Shruti Rajagopalan .

Editor information

Editors and Affiliations

  1. MRE and University of Montpellier, Montpellier, France

    Alain Marciano

  2. Faculté d’Economie, Université de Montpellier and LAMETA-UMR CNRS, Montpellier, France

    Alain Marciano

  3. DiGSPES, University of Eastern Piedmont, Alessandria, Italy

    Giovanni Battista Ramello

  4. IEL, Torino, Italy

    Giovanni Battista Ramello

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© 2019 Springer Science+Business Media, LLC, part of Springer Nature

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Rajagopalan, S., Rizzo, M.J. (2019). Austrian Perspectives in Law and Economics. In: Marciano, A., Ramello, G.B. (eds) Encyclopedia of Law and Economics. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-7753-2_621

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