IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/3862.html
   My bibliography  Save this paper

A Discussion on Empirical Micro-Bases of Hayek’s Methodological Individualism

Author

Listed:
  • Zhao, Liang
  • Zhu, Xian Chen

Abstract

There are essential differences in ‘methodological individualism(MI)’ between neoclassic economics and Hayek’s theory. On basis of The Sensory Order, this paper shows relations between Hayek’s MI and it, the micro-bases of Hayek’s MI from contemporarily empirical disciplines, and some viewpoints verified by succeeding ones; then points out some questions that need to be answered henceforth between Hayek’s theory and interdisciplinary studies in modern economics. It is concluded that Hayek’s MI has its empirical micro-bases, and that his interdisciplinary exploration in the youth can help advance modern economics.

Suggested Citation

  • Zhao, Liang & Zhu, Xian Chen, 2007. "A Discussion on Empirical Micro-Bases of Hayek’s Methodological Individualism," MPRA Paper 3862, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:3862
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/3862/1/MPRA_paper_3862.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Sean Crockett & Vernon L. Smith & Bart J. Wilson, 2009. "Exchange and Specialisation as a Discovery Process," Economic Journal, Royal Economic Society, vol. 119(539), pages 1162-1188, July.
    2. North, Douglass C., "undated". "The Process of Economic Change," WIDER Working Papers 295452, United Nations University, World Institute for Development Economic Research (UNU-WIDER).
    3. Arthur T. Denzau & Douglass C. North, 1994. "Shared Mental Models: Ideologies and Institutions," Kyklos, Wiley Blackwell, vol. 47(1), pages 3-31, February.
    4. Salvatore Rizzello, 1999. "The Economics of the Mind," Books, Edward Elgar Publishing, number 1900.
    5. Houser, Daniel & Liu, Jia & Reiley, David H. & Urbancic, Michael B., 2021. "Checking out temptation: A natural experiment with purchases at the grocery register," Journal of Economic Behavior & Organization, Elsevier, vol. 191(C), pages 39-50.
    6. Daniel McFadden, 2001. "Economic Choices," American Economic Review, American Economic Association, vol. 91(3), pages 351-378, June.
    7. Will Wilkinson, 2005. "Book Reviews: Understanding the Process of Economic Change," Cato Journal, Cato Journal, Cato Institute, vol. 25(1), pages 172-176, Winter.
    8. Cosmides, Leda & Tooby, John, 1994. "Better than Rational: Evolutionary Psychology and the Invisible Hand," American Economic Review, American Economic Association, vol. 84(2), pages 327-332, May.
    9. George A. Akerlof, 2003. "Behavioral Macroeconomics and Macroeconomic Behavior," The American Economist, Sage Publications, vol. 47(1), pages 25-47, March.
    10. Ulrich Witt, 1992. "Evolutionary Concepts in Economics," Eastern Economic Journal, Eastern Economic Association, vol. 18(4), pages 405-419, Fall.
    11. George A. Akerlof & Rachel E. Kranton, 2000. "Economics and Identity," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 115(3), pages 715-753.
    12. Arrow, Kenneth J, 1994. "Methodological Individualism and Social Knowledge," American Economic Review, American Economic Association, vol. 84(2), pages 1-9, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Schnellenbach, Jan & Schubert, Christian, 2015. "Behavioral political economy: A survey," European Journal of Political Economy, Elsevier, vol. 40(PB), pages 395-417.
    2. Rojhat Avsar, 2021. "Rational Emotions: An Evolutionary Perspective," Review of Evolutionary Political Economy, Springer, vol. 2(2), pages 297-314, July.
    3. Masahiko Aoki, 2013. "Institutions as cognitive media between strategic interactions and individual beliefs," Chapters, in: Comparative Institutional Analysis, chapter 17, pages 298-312, Edward Elgar Publishing.
    4. Coyne, Christopher J. & Mathers, Rachel L., 2011. "Rituals: An economic interpretation," Journal of Economic Behavior & Organization, Elsevier, vol. 78(1), pages 74-84.
    5. Ashok Chakravarti, 2012. "Institutions, Economic Performance and the Visible Hand," Books, Edward Elgar Publishing, number 14751.
    6. Alberto Battistini, 2019. "Appearances do mislead: Marxist economic theory and the demise of labour theory of value.Part two: Das Kapital au contraire," Department of Economics University of Siena 817, Department of Economics, University of Siena.
    7. Bart J. Wilson, 2012. "Contra Private Fairness," American Journal of Economics and Sociology, Wiley Blackwell, vol. 71(2), pages 407-435, April.
    8. Roberta Patalano, 2007. "Imagination and society. The affective side of institutions," Constitutional Political Economy, Springer, vol. 18(4), pages 223-241, December.
    9. Hoff, Karla & Stiglitz, Joseph E., 2016. "Striving for balance in economics: Towards a theory of the social determination of behavior," Journal of Economic Behavior & Organization, Elsevier, vol. 126(PB), pages 25-57.
    10. Hsiung Bingyuan, 2009. "Benchmarks and Economic Analysis," Review of Law & Economics, De Gruyter, vol. 5(1), pages 75-99, March.
    11. Taylor Jaworski & Bart J. Wilson, 2013. "Go West Young Man: Self‐Selection and Endogenous Property Rights," Southern Economic Journal, John Wiley & Sons, vol. 79(4), pages 886-904, April.
    12. Kaushik Basu, 2016. "Beyond the Invisible Hand: Groundwork for a New Economics," Economics Books, Princeton University Press, edition 1, number 9299.
    13. Allison Demeritt & Karla Hoff, 2016. "“Small Miracles” — Behavioral Insights to Improve Development Policy: The World Development Report 2015," International Economic Association Series, in: Timothy Besley (ed.), Contemporary Issues in Development Economics, chapter 3, pages 19-43, Palgrave Macmillan.
    14. Salvatore Rizzello & Margherita Turvani, 2002. "Subjective Diversity and Social Learning: A Cognitive Perspective for Understanding Institutional Behavior," Constitutional Political Economy, Springer, vol. 13(2), pages 197-210, June.
    15. Bart J. Wilson & Taylor Jaworski & Karl E. Schurter & Andrew Smyth, 2012. "The Ecological and Civil Mainsprings of Property: An Experimental Economic History of Whalers' Rules of Capture," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 28(4), pages 617-656, October.
    16. Patrick Mason, 2004. "Nea presidential address: Identity, markets, and persistent racial inequality," The Review of Black Political Economy, Springer;National Economic Association, vol. 32(1), pages 13-36, September.
    17. Horstmann, Elaine & Blankenberg, Ann-Kathrin & Schneider, Tim, 2017. "Cooperation in public goods games: Enhancing effects of group identity and competition," University of Göttingen Working Papers in Economics 324, University of Goettingen, Department of Economics.
    18. Johannes M. Bauer, 2004. "Governing the Networks of the Information Society. Prospects and limits of policy in a complex technical system," ITA manu:scripts 04_03, Institute of Technology Assessment (ITA).
    19. Altman, Morris, 2020. "A more scientific approach to applied economics: Reconstructing statistical, analytical significance, and correlation analysis," Economic Analysis and Policy, Elsevier, vol. 66(C), pages 315-324.
    20. Basu, Kaushik, 2006. "Participatory Equity, Identity, and Productivity: Policy Implications for Promoting Development," Working Papers 06-06, Cornell University, Center for Analytic Economics.

    More about this item

    Keywords

    methodological individualism; Hayek; the sensory order; empirical micro-bases; interdisciplinary research in economics;
    All these keywords.

    JEL classification:

    • B49 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Other
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:3862. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.