Reply To: Methodology of Economics – Austrians vs. Neo-classical


Thank you Dr. Herbener for providing the above comparison of the schools.

I have a question about how the 2 schools view so-called “Game Theory.” I believe Rothbard stated it was a branch of praxeology (essay in Economic Controversies and also in Man, Economy, & State) Yet I am not sure I can find any real information on Rothbard or Mises discussing Game Theory or writing much about it.

Can you make any comments on how the two schools of thought view Game Theory, especially what the Austrian Schools approach to this subject? It seems highly mathematical and statistical and yet I do not see any real application for its use.

Thank you!