“…Due to this fact, the principles that guide the scientific explanation are valid as much in economics as in law, politics, exact sciences, and social sciences because they support the idea of methodological monism. This vision is shared by a certain number of contemporary "Austrians" (Mises 1966;Rothbard 1957;Selgin 1988), sometimes with subtleties (for example, as is the case of the Mengerian monism, Mises is a dualist) that we will not develop. 7 Conversely, Hayek, for example, does not share this conception.…”
Section: Developments Regarding the Austrian Theory Of Institutionsmentioning
confidence: 94%
“…7 Cf. for example Selgin (1988) Dufourt and Garrouste (1993). the "hard core" of the Austrian research program poses a real problem when we want to produce a formal model because we must take into account the fact that the time differs according to the individuals and according to time for each individual.…”
Section: Developments Regarding the Austrian Theory Of Institutionsmentioning
confidence: 98%
“…It is understood that this part of 8 Cf. Selgin (1988) Dufourt and Garrouste (1993). Boettke (1998) gives an interesting analysis of Mises'apriorist methodology.…”
Section: Developments Regarding the Austrian Theory Of Institutionsmentioning
confidence: 98%
“…The value of a product is therefore subjective in the sense that it is specific to each individual. For the supporters of the "praxeological" approach (Mises 1966;Selgin 1988), the concept of stable preferences is not pertinent because the revelation of preferences by a rational action (praxeological category) does not constitute a praxeological category and therefore does not exist a priori.…”
Section: Developments Regarding the Austrian Theory Of Institutionsmentioning
International audienceThis paper presents an analysis of the way the Austrian theory of institutions evolved from Menger's main works. It also tries to advance the idea that the economics of institutions, when it deals with the emergence and evolution of rules and norms from interacting individuals, is inspired by Menger's work and more generally by the Austrian analysis of the emergence and evolution of institutions. Recent works in the economics of institutions build on this earlier Austrian work to make it more formalized and testable
“…Due to this fact, the principles that guide the scientific explanation are valid as much in economics as in law, politics, exact sciences, and social sciences because they support the idea of methodological monism. This vision is shared by a certain number of contemporary "Austrians" (Mises 1966;Rothbard 1957;Selgin 1988), sometimes with subtleties (for example, as is the case of the Mengerian monism, Mises is a dualist) that we will not develop. 7 Conversely, Hayek, for example, does not share this conception.…”
Section: Developments Regarding the Austrian Theory Of Institutionsmentioning
confidence: 94%
“…7 Cf. for example Selgin (1988) Dufourt and Garrouste (1993). the "hard core" of the Austrian research program poses a real problem when we want to produce a formal model because we must take into account the fact that the time differs according to the individuals and according to time for each individual.…”
Section: Developments Regarding the Austrian Theory Of Institutionsmentioning
confidence: 98%
“…It is understood that this part of 8 Cf. Selgin (1988) Dufourt and Garrouste (1993). Boettke (1998) gives an interesting analysis of Mises'apriorist methodology.…”
Section: Developments Regarding the Austrian Theory Of Institutionsmentioning
confidence: 98%
“…The value of a product is therefore subjective in the sense that it is specific to each individual. For the supporters of the "praxeological" approach (Mises 1966;Selgin 1988), the concept of stable preferences is not pertinent because the revelation of preferences by a rational action (praxeological category) does not constitute a praxeological category and therefore does not exist a priori.…”
Section: Developments Regarding the Austrian Theory Of Institutionsmentioning
International audienceThis paper presents an analysis of the way the Austrian theory of institutions evolved from Menger's main works. It also tries to advance the idea that the economics of institutions, when it deals with the emergence and evolution of rules and norms from interacting individuals, is inspired by Menger's work and more generally by the Austrian analysis of the emergence and evolution of institutions. Recent works in the economics of institutions build on this earlier Austrian work to make it more formalized and testable
“…37 Mises ([1949Mises ([ ] 1966 argues, for example: 'Historicism aimed at replacing it [economic theory] by economic history; positivism recommended the substitution of an illusory social science, which should adopt the logical structure and pattern of Newtonian mechanics'. See also Selgin's (1988) nice essay on praxeology and Mises's critique of positivism and historicism. 38 Indeed, Mises shares the view of Menger, who distinguishes between studying phenomena from a general (the task of theory) and individual (the task of history) perspective.…”
The establishment of foundations for operational research (OR) enables OR academic researchers to ground their theoretical research. As OR consultants, we compete for commercial contracts with clients based on our practical expertise. The paper seeks to identify the economic foundations of this contracting process, to separate those aspects most likely to endure from those that are more ephemeral. The focus of the analysis is on the behaviour of the players in the consulting services market. The market for consultancy thrives despite the fact that it is difficult for both consultants and clients to understand what is being sought and what is being offered. A key question for everyone concerned is how this problem is resolved in practice. The paper distils existing theories into a set of foundational statements that inform OR research aimed at improving the practice of OR consultants and client interactions. Eight economic foundational statements are derived.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.