A Hayekian Economic Model of Thinking

Coca Veronica ()
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Coca Veronica: “Alexandru Ioan Cuza” University of Iasi

Ovidius University Annals, Economic Sciences Series, 2011, vol. XI, issue 1, pages 413-416

Abstract: The aim of this paper is to demonstrate that the economical model of thinking developed by Hayek can be verified through the game theory and theory of network. The model of Hayek involves the individual freedom as implicit condition for spontaneous order and economic activity. We have verified the hypothesis: The sum of whole individuals’ utility is greater than the individual’s utility. The analyze is a theoretical one and like instruments we use the game theory and the network theory. The result show that individual wellbeing leads to the welfare society.

Keywords: methodological individualism; utility; spontaneous order; network effect. (search for similar items in EconPapers)
JEL-codes: B31 B53 D64 D82 (search for similar items in EconPapers)
Date: 2011
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Persistent link: http://EconPapers.repec.org/RePEc:ovi:oviste:v:11:y:2011:i:1:p:413-416

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