Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/304520 
Year of Publication: 
2001
Citation: 
[Journal:] Agrarwirtschaft: Zeitschrift für Betriebswirtschaft, Marktforschung und Agrarpolitik [ISSN:] 0002-1121 [Volume:] 50 [Issue:] 8 [Year:] 2001 [Pages:] 517-527
Publisher: 
Deutscher Fachverlag, Frankfurt a. M.
Abstract (Translated): 
Agricultural Economics at the Millennium - Established and Unorthodox ConceptsIn this farewell lecture some concepts important for (agricultural) economics are discussed. Special emphasis is given to the Invisible Hand of Adam Smith, sunk costs, information economics, path dependency, error tolerance and redundancy. It is proposed that agricultural economists follow closely new developments in economics proper. Key Words: Equilibrium; sunk costs; game theory; opportunism; rationality; path dependency; error tolerance; social rate of discount
Subjects: 
Agrarökonomik
Rationalität
Sunk Costs
Spieltheorie
Institutionenökonomik
Intertemporale Entscheidung
Persistent Identifier of the first edition: 
Document Type: 
Article

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