A model of Austrian economics

• Main Author: Hagedorn, Hendrik (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: Wiesbaden : Springer Fachmedien Wiesbaden : Imprint: Springer Gabler, 2015.
• Subjects: Economics.; Management science.; Economic theory.; Economic Theory/Quantitative Economics/Mathematical Methods.; Economics, general.

After the most recent financial crisis it has become clear that there exists a crisis also in economics as a science. The prevailing paradigms have failed to anticipate and to understand the financial crisis. New approaches are therefore needed. Of particular interest should be approaches that combi...

Table of Contents:

• An agent-based economy within an accounting framework
• Reaction algorithms for households, firms, and banks
• A contribution to interest-rate theory
• A comparison of Austrian and neoclassical economics.