In 1964 James Buchanan famously asked “What Should Economists Do?” He argued that economists should focus their intellectual attention on exchange and the institutions within which exchange takes place. This paper reflects on Buchanan’s message and looks at the development of that...

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...