Works
- Der natürliche Werth (Natural Value), Alfred Hölder, Vienna, 1889
In Thinking Tools
Known for
An economist of the Austrian school who gave the German term for marginal utility, Grenznutzen, and developed the theory of imputation, which values the means of production by the value of what they produce. The value of a use, in his account, is set by the other uses forgone, the alternative cost doctrine; he later coined the term opportunity cost, in 1914.