Benink, Harald - In: Journal of Finance 56 (2001) 3, pp. 1011-1027
We attempt to translate Neo-Austrian ideas about the workings of financial markets, as originally advanced by F. A. Hayek, into the standard probabilistic language of modern finance. We focus on an apparent paradox, namely the insistence of Neo-Austrians on "order" (i.e., stationarity) together...