Using recent findings from modern empirical disciplines and mainly building on F.A.Hayek’s thoughts, the paper gives a definition of knowledge in accord with the Austrian School’s tradition, and basing on the definition, it sums up three behavior assumptions and a framework on explaining individual behavior and expounds ideas on hierarchical knowledge and its change in real situations. By this way, the paper believes that the Austrian School can be greatly advanced with the help of modern empirical findings.
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
6825.
Find related papers by JEL classification: B31 - Schools of Economic Thought and Methodology - - History of Thought: Individuals - - - Individuals A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
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