Browse / Business & Economics
The Collected Works of Armen A. Alchian 9780865976368

The Collected Works of Armen A. Alchian

ISBN-10: 0865976368
ISBN-13: 9780865976368
PUBLISHER: Liberty Fund, Incorporated
Also available at
Note: Not guaranteed to come with supplemental materials (access codes, CDs, DVDs)
Product Description:
Armen Alchian has helped found several schools of economic thought and is the founder of the UCLA tradition in economics and one of the most influential voices in the areas of market structure, property rights, and the theory of the firm. His career has spanned seven decades, with a stint in the military during World War II. Alchian has left an indelible mark on economics and has taught and inspired generations of students.

Liberty Fund is proud to present, in two volumes, The Collected Works of Armen A. Alchian, bringing together Alchian’s most influential essays, articles, editorials, and lectures to provide a comprehensive record of his thinking on a broad range of topics in economics. As various and as specific as some of this collection’s topics are, they are unified, as editor Daniel K. Benjamin writes, by "both a coherent methodology for doing economics, and a view of the world that celebrates the importance of individual liberty.” Benjamin goes on to state that, in Alchian’s view, "the purpose of theory is never theory in and of itself; it is instead to help individuals understand the world around them.”

The first of two volumes, Choice and Cost under Uncertainty, is a collection of Alchian’s major scholarly articles, some short papers published in nontechnical periodicals, and some monographs from his years at the RAND Corporation. These papers range over topics from the energy crises to linear progress curves, yet all focus on the effect of the individual on markets and costs through various decision-making processes. This volume also presents Alchian’s unique work on the effects of inflation.

The second volume of this collection, Property Rights and Economic Behavior, focuses on Alchian’s merging of law and economics, in particular the economics of property rights. Here Alchian, with assistance from Ronald Coase and Harold Demsetz, expands upon the economic rationale behind property rights and demonstrates that these are not distinct from human rights but rather are integral to them. These seminal works go against the grain of conventional wisdom, pointing out among other things the lack of wealth-maximization objectives in various levels of government and nonprofit organizations. Alchian’s powerful economic methodology resists the tide, for the sake of the individual and hence for all of society.

As these volumes vividly illustrate, Armen Alchian has transformed the way economists think about the world. He is responsible, for example, for some of the earliest work on the economics of property rights, showing how governments and nonprofit organizations can be understood with the same tools that are applied to the private sector. He has also demonstrated the crucial importance of legal institutions in shaping economic decisionmaking and laid the foundations for the modern understanding of the business firm. Testimony to the scope and depth of Alchian’s work is that his papers continue to be influential decades after their initial publication.

Armen A. Alchian is Professor Emeritus of Economics at UCLA.

Daniel K. Benjamin is Professor of Economics at Clemson University.

Additional Details

PAGES: 1634
CATEGORY: Business & Economics

21 Day Unconditional Guarantee

any book, any reason

Rent This Book Now:

Price guaranteed for 45:00 longer
Due May 15 $1772.17
130 days (due Aug 4) $2055.89
85 days (due Jun 20) $1870.86
55 days (due May 21) $1788.62
Select Your Own Date

Buy this book used:


List Price: $36.00
Your Savings:
Total Price:

REVIEWS for The Collected Works of Armen A. Alchian

Select a star rating


1. How do textbook rentals work?
It’s simple. Begin by searching for your textbook by ISBN (10 or 13-digit number that can be found on the back cover of each book), title, author or keyword. Next select how long you would like to rent the book then add it to your cart. Repeat for each book you’re looking for. After completing the order we’ll ship them to you and you’ll also receive a prepaid mailer. Return your books in the mailer by your rental due date.
2. Is renting a textbook better than purchasing it?
We offer both! You can buy or rent the book through Campus Book Rentals. It’s up to you to decide which option best meets your educational needs.
3. How do I track my order?
Login to your account here, you’ll see your current rentals listed textbook rentals listed with a yellow box that says “track”. Click the box to view the tracking number. *Not all books will have a tracking number since they may be sent from one of our partners. Tracking numbers will be updated as they become available.
4. How do I return my books?
When you rent textbooks from Campus Book Rentals you’ll receive a prepaid mailer. When it’s nearing your due date you’ll place your books inside the mailer and take it to the nearest USPS drop box or Post Office. If you don’t receive a mailer you can print a return label from your account. Return shipping is prepaid so please use either of the two methods to ensure they arrive at the correct facility.
5. Can I write or highlight in my book?
Of course! Just remember that future students will rent the same book after you, so please be respectful.
6. How much money can renting my books save?
It depends on the book. Generally renting textbooks can save you up to 80% compared to a new textbook.
7. Are Campus Book Rentals’ books the same as my bookstore’s?
Yes! We only ship US edition textbooks, which are the same as your campus bookstore.
8. Do access codes or other supplements come with a textbook rental?
One time use access codes and other supplemental materials are NOT included with rental books and must be purchased separately.
9. What if I don’t return my rental?
If your book rental is not returned by the due date, your credit card will be charged a non-return fee, equal to the replacement value for the book.
10. Can I purchase my book after I rent it?
Certainty! You’re only charged the difference between what you already paid and the value of the book at the time you initially rented. Login to your account and choose to purchase your book and it’ll walk you through the checkout process.

Textbook Rentals

We know that textbook rentals are the best way currently to distribute high quality textbooks, and we want to have you on board! Join over a million students that have saved money by renting! Not only is it better for you, but when you return it that book can go on to help even more students access affordable education. We're confident we offer the best value in rentals, but if you're not a believer you can always return your book for a no questions asked refund within 21 days.

Why Choose Us?

1. Campus Book Rentals pioneered the idea of textbook rentals, making prices significantly cheaper for every student while still maintaining the highest quality. We've been at it since 2007 and the entire industry has had to adapt to keep up.

2. Though keeping prices low has always been the goal, we can boast an excellent support team that has helped thousands of students get the best value for their education. Chat with them at 855-200-0021 or use our chat box.

3. We practice what we preach. We routinely read our own textbooks to further our own education while at work. We know that only with a well-educated team of individuals can we continue to change the industry for the better.

Make A Difference

At Campus Book Rentals our company is guided by a single question, "How are we making education more affordable?" We know that getting a college education is quickly becoming a rite of passage for students and is becoming more important every year. In order to make education more attainable for the 99%, we started renting textbooks so students could avoid high purchase prices and buyback programs. We know it's a better way, and we're going to show everyone how to make a college education affordable again.