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The economic analysis of social norms: A reappraisal of Hayek's legacy

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  • Agnès Festré

    () (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis - UCA - Université Côte d'Azur - CNRS - Centre National de la Recherche Scientifique)

  • Pierre Garrouste

    () (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

This paper is organized as follows : First we show that the reference to the notion of group selection is coherent with the other parts of Hayek's thought. Second we develop the idea that recent works in terms of the emergence and evolution of social norms corroborate in part Hayek's theses in this domain. Finally we put to the fore some drawbacks in Hayek's approach and propose means to solve them.

Suggested Citation

  • Agnès Festré & Pierre Garrouste, 2009. "The economic analysis of social norms: A reappraisal of Hayek's legacy," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00346389, HAL.
  • Handle: RePEc:hal:cesptp:halshs-00346389
    DOI: 10.1007/s11138-009-0083-7
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00346389
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    References listed on IDEAS

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    1. John C. Harsanyi & Reinhard Selten, 1988. "A General Theory of Equilibrium Selection in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582384, January.
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    6. Adam Gifford, 2007. "The knowledge problem, determinism, and The Sensory Order," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 20(4), pages 269-291, December.
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    9. Ulrich Witt, 2006. "Evolutionary Economics," Papers on Economics and Evolution 2006-05, Philipps University Marburg, Department of Geography.
    10. Jeffery Carpenter & Samuel Bowles & Herbert Gintis, 2006. "Mutual Monitoring in Teams: Theory and Experimental Evidence on the Importance of Reciprocity," Middlebury College Working Paper Series 0608, Middlebury College, Department of Economics.
    11. Sethi, Rajiv & Somanathan, E, 1996. "The Evolution of Social Norms in Common Property Resource Use," American Economic Review, American Economic Association, vol. 86(4), pages 766-788, September.
    12. Leonid Hurwicz, 1994. "Economic design, adjustment processes, mechanisms, and institutions," Review of Economic Design, Springer;Society for Economic Design, vol. 1(1), pages 1-14, December.
    13. Daniel Kahneman, 2003. "Maps of Bounded Rationality: Psychology for Behavioral Economics," American Economic Review, American Economic Association, vol. 93(5), pages 1449-1475, December.
    14. Birner Jack, 1995. "The surprising place of cognitive psychology in the work of F.A. Hayek," Research Memorandum 019, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    15. Pierre Garrouste, 1999. "Le problème de la cohérence de l'évolutionnisme hayékien," Post-Print halshs-00274290, HAL.
    16. Garrouste, Pierre, 1994. "Menger and Hayek on Institutions: Continuity and Discontinuity," Journal of the History of Economic Thought, Cambridge University Press, vol. 16(02), pages 270-291, September.
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    Cited by:

    1. Brette, Olivier & Buhler, Thomas & Lazaric, Nathalie & Marechal, Kevin, 2014. "Reconsidering the nature and effects of habits in urban transportation behavior," Journal of Institutional Economics, Cambridge University Press, vol. 10(03), pages 399-426, September.
    2. Agnès Festré & Pierre Garrouste, 2016. "Hayek on Expectations: The Interplay between two Complex Systems," GREDEG Working Papers 2016-13, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis.
    3. Marco, Passarella & Hervé, Baron, 2010. "Concorrenza senza equilibrio. La "scoperta imprenditoriale" nella Teoria Economica Austriaca
      [Competition without equilibrium. The 'entrepreneurial discovery' in Austrian Economic Theory]
      ," MPRA Paper 28505, University Library of Munich, Germany.

    More about this item

    Keywords

    Hayek; social norms; emergence and evolution; coherence; relevance; normes sociales; émergence et évolution; pertinence;

    JEL classification:

    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • B3 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals
    • D0 - Microeconomics - - General

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