2002 Fiscal Year Final Research Report Summary
Fisheries Management and Austrian Economics
| Project/Area Number |
13630069
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
経済政策(含経済事情)
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| Research Institution | Kagoshima University |
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Principal Investigator |
SAKUMA Yoshiaki Kagoshima University, Faculty of Fisheries, Associate Professor, 水産学部, 助教授 (30242936)
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| Project Period (FY) |
2001 – 2002
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| Keywords | Fisheries Management / Austrian Economics / Decision Making / Fishery Household / Fisherman |
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| Research Abstract |
Economics, to an Austrian economist, is the study of purposeful human action in its broadest sense. Since only individuals act, the focus of study for the Austrian economist is always on the individual. Austrian economists believe that one can never know if humans have maximized benefits or minimized costs. Austrian economists emphasize instead the process by which market participants gain information and form their expectations in order to lead them to their own idea of a best solution. Often the individual fisherman may decide, after the fact, that a decision was not efficient. In the actual process of acting to achieve an end, an individual fisherman will discover what works best. And even then, what worked best this time may not work best next time. But a person cannot know this without the process of acting.
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