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

  • Zhao, Liang
  • Zhu, Xian Chen

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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  1. George A. Akerlof, 2002. "Behavioral Macroeconomics and Macroeconomic Behavior," American Economic Review, American Economic Association, vol. 92(3), pages 411-433, June.
  2. Denzau, Arthur T & North, Douglass C, 1994. "Shared Mental Models: Ideologies and Institutions," Kyklos, Wiley Blackwell, vol. 47(1), pages 3-31.
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  5. 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.
  6. Sean Crockett & Vernon Smith & Bart Wilson, 2006. "Exchange and Specialization as a Discovery Process," Working Papers 1002, George Mason University, Interdisciplinary Center for Economic Science, revised May 2006.
  7. Arrow, Kenneth J, 1994. "Methodological Individualism and Social Knowledge," American Economic Review, American Economic Association, vol. 84(2), pages 1-9, May.
  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 327-32, May.
  9. Ulrich Witt, 1992. "Evolutionary Concepts in Economics," Eastern Economic Journal, Eastern Economic Association, vol. 18(4), pages 405-419, Fall.
  10. George A. Akerlof & Rachel E. Kranton, 2000. "Economics And Identity," The Quarterly Journal of Economics, MIT Press, vol. 115(3), pages 715-753, August.
  11. North, D-C, 1997. "The Process of Economic Change," Research Paper 128, World Institute for Development Economics Research.
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