InterSymp. Special Focus Symposium on Catallactics: Quantitative Modelling of Human Market Interactions

  • Loistl, Otto (PI - Project head)
  • Veverka, Alexander (Researcher)
  • Zwick, Harald (Researcher)

    Project Details


    Today economists’ attention shifts away from any explanation of market phenomena as if they were solely equilibrium phenomena towards an understanding of economics as catallactics, the ‘science of exchanges. Rooted in the conviction that an equilibrium framework fails to offer a satisfying description of real market processes, Austrian School economists like Mises and Hayek have already stressed the fundamental property of human interaction on markets. As Buchanan convincingly shows in a generally positive appraisal, even game theory fails to meet this requirement. He therefore calls for the development of a “formal mathematics of human interaction” (Buchanan, J.M. (2001): Game theory, mathematics, and economics, Journal of Economic Methodology 8, pp. 27-32.).
    This Special Focus Symposium is an international forum for exploring the values of and exchanging ideas on quantitative models and numerical techniques to comprehend the complex realities of human interaction on markets as well as their application to all topic areas of market performance on the micro-level governed by human interaction.
    Effective start/end date30/07/0331/07/08

    Collaborative partners

    Austrian Classification of Fields of Science and Technology (OEFOS)

    • 502025 Econometrics
    • 502010 Public finance
    • Entropy and the Capital Market's Efficiency

      Loistl, O. & Veverka, A., 2004, 16th International Conference on Systems Research, Informatics and Cybernetics, Baden-Baden, Germany, July 2004.

      Publication: Chapter in book/Conference proceedingContribution to conference proceedings