This paper upholds the thesis that contemporary modelling of complex cognitive, economic, and social systems vindicates Hayek’s conception of modernity and justifies the apparent conservatism of his liberalism. It changes so drastically our conception of rationality that it allows us to overcome Hayek’s criticism of rational constructivism and to work out a new form of critical rationalism. It is now possible to speak of an Hayekian Enlightenment and to conceive of his liberalism as a new Aufklärung.
Learning in the Trust Game
Abstract We use experimental data from a repeated trust game to estimate structural learning models that let us differentiate between the learning processes of the two players. We find that the two players cannot be described by the same learning process. Long-run simulations then show that the interaction of the two estimated types of players … Continue reading Learning in the Trust Game