Hayek's theory on complexity and knowledge: dichotomies, levels of analysis, and bounded rationality
David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Journal of Economic Methodology 16 (3):265-285 (2009)
Hayek maintains that models of complexity must consider two closely interrelated factors: the large number of variables and the connections among them. These two conditions, which define complex phenomena, exhibit a different logical dimension. The former (the ?large number of variables?) describes complexity in quantitative (numerical) terms; the latter provides a view of complex phenomena in logical-relational terms, and it is evoked to explain the emergent properties of the whole. Despite the close relation between these concepts, the first notion essentially prevails over the latter, delineating a distinctive configuration of the theory. This perspective also emerges when Hayek defines ?dispersed? and ?inarticulate? knowledge, and introduces the concept of the ?explanations of the principles?. Finally, the notion of level of analysis is discussed in order to interpret Hayek's two concepts which define complexity.
|Keywords||No keywords specified (fix it)|
|Categories||categorize this paper)|
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library|
References found in this work BETA
John Horgan (1996/1998). The End of Science: Facing the Limits of Knowledge in the Twilight of the Scientific Age. Abacus.
Henry E. Kilpatrick (2001). Complexity, Spontaneous Order, and Friedrich Hayek: Are Spontaneous Order and Complexity Essentially the Same Thing? Complexity 6 (4):16-20.
Juergen Lange-Von Kulessa (1997). Searching for a Methodological Synthesis -Hayek's Individualism in the Light of Recent Holistic Criticism. Journal of Economic Methodology 4 (2):267-287.
Citations of this work BETA
No citations found.
Similar books and articles
Leslie Marsh (forthcoming). Mindscapes and Landscapes: Hayek and Simon on Cognitive Extension. In Roger Frantz & Robert Leeson (eds.), Hayek and Behavioral Economics. Palgrave.
S. N. Durlauf (2012). Complexity, Economics, and Public Policy. Politics, Philosophy and Economics 11 (1):45-75.
Andy Denis (2002). Was Hayek a Panglossian Evolutionary Theorist? A Reply to Whitman. Constitutional Political Economy 13 (3):275-285.
Leslie Marsh (2010). Hayek: Cognitive Scientist Avant La Lettre. In William Butos, Roger Koppl & Steve Horwitz (eds.), Advances in Austrian Economics. Emerald.
Roland Kley (1994). Hayek's Social and Political Thought. Oxford University Press.
Ryszard Legutko (1997). Was Hayek an Instrumentalist? Critical Review 11 (1):145-164.
K. V. Velupillai (2010). Complexity Theoretic Bounded Rationality and Satisficing. In Marisa Faggini, Concetto Paolo Vinci, Antonio Abatemarco, Rossella Aiello, F. T. Arecchi, Lucio Biggiero, Giovanna Bimonte, Sergio Bruno, Carl Chiarella, Maria Pia Di Gregorio, Giacomo Di Tollo, Simone Giansante, Jaime Gil Aluja, A. I͡U Khrennikov, Marianna Lyra, Riccardo Meucci, Guglielmo Monaco, Giancarlo Nota, Serena Sordi, Pietro Terna, Kumaraswamy Velupillai & Alessandro Vercelli (eds.), Decision Theory and Choices: A Complexity Approach. Springer Verlag Italia.
Greg Hill (2005). Don't Shoot the Messenger: Caldwell's Hayek and the Insularity of the Austrian Project. Critical Review 17 (1-2):69-88.
Jan Krajíček (1995). Bounded Arithmetic, Propositional Logic, and Complexity Theory. Cambridge University Press.
Added to index2012-02-20
Total downloads6 ( #291,250 of 1,696,561 )
Recent downloads (6 months)2 ( #247,412 of 1,696,561 )
How can I increase my downloads?