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

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  • 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.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 3862.

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Date of creation: 05 Jun 2007
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Handle: RePEc:pra:mprapa:3862

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Keywords: methodological individualism; Hayek; the sensory order; empirical micro-bases; interdisciplinary research in economics;

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  1. Arrow, Kenneth J, 1994. "Methodological Individualism and Social Knowledge," American Economic Review, American Economic Association, vol. 84(2), pages 1-9, May.
  2. Cosmides, Leda & Tooby, John, 1994. "Better than Rational: Evolutionary Psychology and the Invisible Hand," American Economic Review, American Economic Association, vol. 84(2), pages 327-32, May.
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  8. Sean Crockett & VernonL. Smith & BartJ. Wilson, 2009. "Exchange and Specialisation as a Discovery Process," Economic Journal, Royal Economic Society, vol. 119(539), pages 1162-1188, 07.
  9. Akerlof, George A., 2001. "Behavioral Macroeconomics and Macroeconomic Behavior," Nobel Prize in Economics documents 2001-4, Nobel Prize Committee.
  10. Daniel Houser & David Reiley & Michael Urbancic, 2004. "Checking Out Temptation: An Natural Experiment with Purchases at the Grocery Register," Working Papers 1001, George Mason University, Interdisciplinary Center for Economic Science, revised Nov 2008.
  11. Will Wilkinson, 2005. "Book Reviews: Understanding the Process of Economic Change," Cato Journal, Cato Journal, Cato Institute, vol. 25(1), pages 172-176, Winter.
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