On Conceptualizing Risk: A Comment on Hoffmann

Quarterly Journal of Austrian Economics Vol. 21, N°3 (Fall 2018), 246-255

10 Pages Posted: 5 Apr 2019

See all articles by Xavier Méra

Xavier Méra

Université catholique de l'Ouest

Date Written: September 23, 2018

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: risk, uncertainty

JEL Classification: D80, D81

Suggested Citation

Méra, Xavier, On Conceptualizing Risk: A Comment on Hoffmann (September 23, 2018). Quarterly Journal of Austrian Economics Vol. 21, N°3 (Fall 2018), 246-255, Available at SSRN: https://ssrn.com/abstract=3351537

Xavier Méra (Contact Author)

Université catholique de l'Ouest ( email )

3 place André Leroy
Angers, 49000
France

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