Suchergebnisse

Abstract: Im Mittelpunkt des Werkes steht die Suche nach einer angemessenen Erklärung des Underpricing von Aktienerstemissionen. Eine ausführliche Analyse bestehender Modelle zeigt eine Vorherrschaft formaler Gleichgewichtskonzepte der neoklassischen Informationsökonomie. Keiner der aktuellen Ansätze empfiehlt sich jedoch als universelle Deutung dieses Phänomens. Gerade die Gleichgewichtsmodelle zeigen sich zudem in ihrer Aussagekraft durch die Vorgaben des neoklassischen Paradigmas begrenzt.Ein Weg, das vorhandene Theoriegebäude zum Verständnis des Underpricing auszubauen, liegt in der Ergänzung der bisherigen modelltheoretischen durch eine prozessorientierte Sicht. Genau diesen Weg wählt diese Arbeit. Sie erweitert die bestehenden Interpretationen des Underpricing additiv um eine kausalprozessbezogene Betrachtung entsprechend den Ideen der Austrian Economics. Insgesamt erlaubt die komplementäre Zusammenführung von Modell- und Kausalprozesstheorie ein realitätsnäheres Verständnis des Underpricing.

This book argues, against the dominant orthodoxy in the history of economic thought, for the originality of Carl Menger's contribution to the development of the Austrian school of economics. Situating the evolution of Menger's thought in the tradition of classical political economy, the author documents the emergence of a Mengerian logic and its contribution to the formation of a distinctly Austrian tradition of economics. In its bold elucidation of the shaping of a tradition in economic thought, Tradition and Innovation in Austrian Economics provides a fresh and challenging persp

Articles -- Eugen Richter and Late German Manchester Liberalism: A Reevaluation -- Ludwig von Mises as Social Rationalist -- Banking, Nation States and International Politics: A Sociological Reconstruction of the Present Economic Order -- National Goods versus Public Goods: Defense, Disarmament, and Free Riders -- Karl Marx: Communist as Religious Eschatologist -- The Subjectivist Roots of James Buchanan's Economics -- Notes and Comments -- The DMVP-MVP Controversy: A Note -- Misconceptions about Austrian Business Cycle Theory: A Comment -- Book Reviews -- Gary B. Madison. Understanding: A Phenomenological-Pragmatic Analysis -- Thomas Sowell. A Conflict of Visions -- David Conway. A Farewell to Marx -- Richard L. Lucier. The International Political Economy of Coffee -- Walter Block and Llewellyn H. Rockwell, Jr., eds. Man, Economy, and Liberty.

Contents: 1. Introduction -- 2. 'Red Vienna' and the roots of Austro-marxism -- 3. The young Rudolf Hilferding -- 4. Otto Bauer 1904-1914 -- 5. The economics of socialism -- 6. Otto Bauer 1917-1938 -- 7. Other voices -- 8. The heirs. I: Josef Steindl -- 9. The heirs. Ii: Kurt Rothschild -- 10. What is left -- Bibliography -- Index.

This 1994 book examines the development of the ideas of the new Austrian school from its beginnings in Vienna in the 1870s to the present. It focuses primarily in showing how the coherent theme that emerges from the thought of Carl Menger, Ludwig von Mises, Friedrich Hayek, Ludwig Lachman, Israel Kirzner and a variety of new younger Austrians is an examination of the implications of time and ignorance (or processes and knowledge) for economic theory

"Austrian Economics Re-examined: The Economics of Time and Ignorance is an expanded version of the 1996 edition of The Economics of Time and Ignorance. This work is a classic statement of the role of subjectivism, radical uncertainty and change through real time in Austrian economics specifically, and in modern economics more generally.The new book contains the full text and Introductions of the earlier edition as well as the comprehensive previously-unpublished essay "What is Austrian Economics?" and a new Introduction. The essay is a comprehensive overview of the central themes of the book from a somewhat different perspective than in the book itself. It supplements the analysis in the book. The new Introduction explains that the 2007-8 financial crisis and recent developments in behavioural economics have made the book more relevant than ever before.Austrian Economic Re-examined develops and systematizes the fundamental principles of the Austrian tradition to the analysis of rational expectations, business cycles, monetary theory competition and monopoly, and capital theory"--