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On Conceptualizing Risk: A Comment on Hoffmann

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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)

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.

Suggested Citation

  • Xavier Méra, 2018. "On Conceptualizing Risk: A Comment on Hoffmann," Post-Print halshs-02067012, HAL.
    • Handle: RePEc:hal:journl:halshs-02067012
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-02067012
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    Keywords

    Austrian economics; risk; uncertainty; complexity; probability;
    All these keywords.

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