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An Explanation to Individual Knowledge and Behavior Based on Empirical Substrates

Author

Listed:
  • 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.

Suggested Citation

  • Zhao, Liang & Zhu, Xian Chen, 2008. "An Explanation to Individual Knowledge and Behavior Based on Empirical Substrates," MPRA Paper 6825, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:6825
    as

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    File URL: https://mpra.ub.uni-muenchen.de/6825/1/MPRA_paper_6825.pdf
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    References listed on IDEAS

    as
    1. Boettke, Peter J, 2002. "Information and Knowledge: Austrian Economics in Search of its Uniqueness," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 15(4), pages 263-274, 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;Society for the Development of Austrian Economics, vol. 19(4), pages 261-274, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    knowledge; shared knowledge; hierarchy; behavioral assumption; reduced framework; empirical foundation;
    All these keywords.

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic 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; Stockholm School
    • 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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