The Nationalökonomische Gesellschaft from its foundation to the postwar period: prosperity and depression [PDF]
, 2019 The Nationalökonomische Gesellschaft (NOeG) was founded in June 1918 by a group of young scholars, mostly based in Vienna, as a forum for theoretical debate. Despite the prominent economists involved (e.g.
Klausinger, Hansjörg
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Forecasting Natural Gas Prices in Real Time
Journal of Applied Econometrics, EarlyView.ABSTRACT This paper provides a comprehensive analysis of the forecastability of the real price of natural gas in the United States at the monthly frequency considering a universe of models that differ in complexity and economic content. We find that considerable reductions in mean‐squared prediction error relative to a no‐change benchmark can be ...
Christiane Baumeister +3 more
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Economic Organization in the Knowledge Economy Some Austrian Insights [PDF]
I critically discuss recent claims about economic organization in the emerging “knowledge economy,” specifically that authority relations will tend to disappear (or at least become radically transformed), the boundaries of the firm will blur, and ...
Nicolai J. Foss
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Law by human intent or evolution? Some remarks on the Austrian school of economics' role in the development of law and economics [PDF]
, 2018 In the late nineteenth century, economic analysis of law experienced an outright rejection by the German-speaking legal community. In the second half of the twentieth century, it became a dominant approach in American legal inquiry.
Grechenig, Kristoffel, Litschka, Michael
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From Reactive to Proactive Volatility Modeling With Hemisphere Neural Networks
Journal of Applied Econometrics, EarlyView.ABSTRACT We revisit maximum likelihood estimation (MLE) for macroeconomic density forecasting through a novel neural network architecture with dedicated mean and variance hemispheres. Our architecture features several key ingredients making MLE work in this context.
Philippe Goulet Coulombe +2 more
wiley +1 more source
Between Practicality and Politics: Factors of Sub‐National Aid Allocation in Bosnia and Herzegovina
Journal of International Development, EarlyView.ABSTRACT Bosnia and Herzegovina represents a unique case of aid recipient for its complex history and administrative and political divisions. Yet, little is known about how foreign aid is allocated to local recipients. This qualitative study uncovers factors shaping sub‐national aid allocation in Bosnia and Herzegovina, highlighting donors' and ...
Lenka Dušková +5 more
wiley +1 more source
THE AUSTRIAN SCHOOL OF ECONOMICS AND MARKET INSTABILITY [PDF]
CES Working Papers, 2013 Market equilibrium is an illusion. The economic reality shows us that the main characteristic of the markets is the state of instability. The complexity of the phenomenon and the strong implications engendered by the economic fluctuations in the macro ...
Claudiu Peptine, Claudiu-Gabriel Tiganas
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Israel M. Kirzner: An Outstanding Austrian Contributor to the Economics of Entrepreneurship [PDF]
Israel M. Kirzner is the 2006 winner of The International Award for Entrepreneurship and Small Business Research. In this essay, we present and evaluate his main contributions to the economics of entrepreneurship.
Douhan, Robin +2 more
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Navigating AI Convergence in Human–Artificial Intelligence Teams: A Signaling Theory Approach
Journal of Organizational Behavior, EarlyView.ABSTRACT Teams that combine human intelligence with artificial intelligence (AI) have become indispensable for solving complex tasks in various decision‐making contexts in modern organizations. However, the factors that contribute to AI convergence, where human team members align their decisions with those of their AI counterparts, still remain unclear.
Andria Smith +3 more
wiley +1 more source
Product liability: the normative Austrian perspective [PDF]
The paper is an exercise in a normative economic analysis of product liability. After a short historical introduction, we take two of the basic premises of Austrian economic thought and see which system of product liability results.
Folmer, Henk +2 more
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