Entrepreneur and market relationship within the Austrian School of Economics

This study focuses on the history, representatives, and fundamental concepts of the Austrian School of Economics (ASE), with particular emphasis on the uniqueness of the school, especially through Ludwig Mises' concept of Praxeology. The contemporary impact of the ASE, its prominent representatives, and the important concepts contributed to the literature by the school are thoroughly examined. The primary objective of the study is to comparatively test the responsiveness of consumers, identified as entrepreneurs by Jeffrey Herbener, using a newly proposed model between the dates of 22.04.2022 and 22.08.2023, particularly through the lens of Mises' Praxeology. This test will be conducted through the Casual Genetic method, evaluating the functionality of the model based on the prices in chain markets' shelves and E-commerce during the specified period.In the first two sections of the study, the historical origins of the ASE, its representatives, the concepts it has contributed to the literature, and the differences with the Neoclassical School will be thoroughly examined. The final section will focus on the factors constituting the foundation of the proposed model, including market, state, information, and entrepreneurial elements. The variables of the model will be detailed, and the test will be conducted in this section.