Focusing theory hypothesizes a bias toward concentration according to which consumers prefer goods with one outstanding … feature over those with several smaller sized upsides. In contrast to models of present-biased behavior, focusing theory … focusing theory. …

. In this work, Mises embeds the business cycle theory which he initially developed in Theorie des Geldes und der …This paper addresses Ludwig von Mises's business cycle theory at maturity, as advanced in his opus magnum Human Action … Umlaufmittel into the broad context of his methodological convictions. Whereas the initial outline of his cycle theory strongly …