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Evolutionary Theorizing in Economics Author info | Abstract | Publisher info | Download info | Related research | Statistics Richard R. Nelson
Sidney G. Winter
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This paper reviews the case for an evolutionary approach to problems of economic analysis, ranging from the details of individual firm behavior in the short run through industrial dynamics to the historical evolution of institutions and technologies. We draw upon a substantial body of recent research contributions. We characterize micro behavior as governed by skills and routines that are shaped by learning and selection. We then consider major areas of application of evolutionary thinking, including the analysis of competitive processes in technologically dynamic industries and the evolution of institutions and technologies.
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Article provided by American Economic Association in its journal Journal of Economic Perspectives .
Volume (Year): 16 (2002)
Issue (Month): 2 (Spring)
Pages: 23-46
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Handle: RePEc:aea:jecper:v:16:y:2002:i:2:p:23-46Contact details of provider: Email: Web page: http://www.aeaweb.org/jep/ More information through EDIRC
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