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An Explanation to Individual Knowledge and Behavior Based on Empirical Substrates

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  • Zhao, Liang
  • Zhu, Xian Chen

Abstract

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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File URL: http://mpra.ub.uni-muenchen.de/6825/
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 6825.

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Date of creation: 18 Jan 2008
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Handle: RePEc:pra:mprapa:6825

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Keywords: knowledge; shared knowledge; hierarchy; behavioral assumption; reduced framework; empirical foundation;

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  1. Boettke, Peter J, 2002. " Information and Knowledge: Austrian Economics in Search of its Uniqueness," The Review of Austrian Economics, Springer, vol. 15(4), pages 263-74, December.
  2. Elinor Ostrom, 2004. "The Working Parts of Rules and How They May Evolve Over Time," Papers on Economics and Evolution 2004-04, Philipps University Marburg, Department of Geography.
  3. K. Foss & Nicolai Foss, 2006. "The limits to designed orders: Authority under “distributed knowledge” conditions," The Review of Austrian Economics, Springer, vol. 19(4), pages 261-274, December.
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