On Conceptualizing Risk: A Comment on Hoffmann

Xavier Méra ()
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Xavier Méra: GRANEM - Groupe de Recherche Angevin en Economie et Management - UA - Université d'Angers - AGROCAMPUS OUEST - Institut National de l'Horticulture et du Paysage

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Abstract: Hoffmann (2018) attempts to reconstruct a typology of risks deemed more accurate and useful to both economists and risk managers than currently received views on the subject within mainstream economics/finance and Austrian economics. This comment argues that his criticisms of the Misesian approach and his case for an alternative are unconvincing. We explain weaknesses in his criticisms of the Misesian approach and outline some problems with his constructive task of building up the alternative.

Keywords: Austrian economics; risk; uncertainty; complexity; probability (search for similar items in EconPapers)
Date: 2018-09-23
New Economics Papers: this item is included in nep-hme and nep-rmg
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Published in Quarterly Journal of Austrian Economics, 2018

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-02067012

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