A Hayekian Economic Model of Thinking
AbstractThe aim of this paper is to demonstrate that the economical model of thinking developed by Hayek can be verified through the game theory and theory of network. The model of Hayek involves the individual freedom as implicit condition for spontaneous order and economic activity. We have verified the hypothesis: The sum of whole individuals’ utility is greater than the individual’s utility. The analyze is a theoretical one and like instruments we use the game theory and the network theory. The result show that individual wellbeing leads to the welfare society.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Ovidius University of Constantza, Faculty of Economic Sciences in its journal Ovidius University Annals, Economic Sciences Series.
Volume (Year): XI (2011)
Issue (Month): 1 (May)
Contact details of provider:
Web page: http://www.univ-ovidius.ro/facultatea-de-stiinte-economice
More information through EDIRC
methodological individualism; utility; spontaneous order; network effect.;
Find related papers by JEL classification:
- B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
- B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
- D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
You can help add them by filling out this form.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jeflea Victor).
If references are entirely missing, you can add them using this form.