Artur Marion Ceolin

Austrian investment theory emphasizes purposeful actions, learning, and individual judgment under uncertainty, in contrast to the static neoclassical and behavioral finance models.

While F.A. Hayek is known for his term “spontaneous order,” Mises saw institutional development as coming from growth in human understanding of things.

Austrian economics is defined by its adherence to the a priori methodology, not empiricism. That places it at odds with mainstream economics, which stresses the methodology of positivism.