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

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Author Info
zhao, liang
zhu, xian chen

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

Find related papers by 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

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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. [Downloadable!] (restricted)
  3. North, D-C, 1997. "The Process of Economic Change," Research Paper 128, World Institute for Development Economics Research.
  4. Denzau, Arthur T & North, Douglass C, 1994. "Shared Mental Models: Ideologies and Institutions," Kyklos, Blackwell Publishing, vol. 47(1), pages 3-31.
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  5. George A. Akerlof & Rachel E. Kranton, 2000. "Economics And Identity," The Quarterly Journal of Economics, MIT Press, vol. 115(3), pages 715-753, August. [Downloadable!] (restricted)
  6. North, Douglass C, 1991. "Institutions," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 97-112, Winter. [Downloadable!] (restricted)
  7. Daniel McFadden, 2001. "Economic Choices," American Economic Review, American Economic Association, vol. 91(3), pages 351-378, June. [Downloadable!] (restricted)
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  8. Ulrich Witt, 1992. "Evolutionary Concepts in Economics," Eastern Economic Journal, Eastern Economic Association, vol. 18(4), pages 405-419, Fall. [Downloadable!]
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