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Evolutionary Theorizing in Economics

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Author Info
Richard R. Nelson
Sidney G. Winter

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Abstract

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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File URL: http://www.e-jep.org/archive/1602/16020023.pdf
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Publisher Info
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:23-46

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  1. Américo Tristão Bernardes & Ricardo Machado Ruiz & Leonardo Costa Ribeiro & Eduardo da Motta e Albuquerque, 2006. "Modeling economic growth fuelled by science and technology," Textos para Discussão Cedeplar-UFMG td294, Cedeplar, Universidade Federal de Minas Gerais. [Downloadable!]
  2. Javier Carrillo & Pablo Del Rio, 2007. "An Empirical Analysis of Institutional Barriers to European Hydrogen Rd&D Cooperation," Working Papers Economia wp07-13, Instituto de Empresa, Area of Economic Environment. [Downloadable!]
  3. Eduardo Pol & Peter Carroll, 2004. "Reviving and assessing the Kuznets law on innovation," Economics of Innovation and New Technology, Taylor and Francis Journals, vol. 13(2), pages 127-140, March. [Downloadable!] (restricted)
  4. Petr Hanel, 2007. "Skills required for innovation: A review of the literature," Cahiers de recherche 07-23, Departement d'Economique de la Faculte d'administration à l'Universite de Sherbrooke. [Downloadable!]
  5. Natalia Zinovyeva, 2004. "Multilevel population thinking: the history and the use of the concept in economics," DRUID Working Papers 04-08, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies. [Downloadable!]
  6. Sheri M. Markose, 2004. "Computability and Evolutionary Complexity: Markets As Complex Adaptive Systems (CAS)," Economics Discussion Papers 574, University of Essex, Department of Economics. [Downloadable!]
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  7. Leonardo Boncinelli, 2007. "Manifesto of Dynamic Social Economics," Department of Economics University of Siena 517, Department of Economics, University of Siena. [Downloadable!]
  8. Nogareda, Jazmin Seijas & Ziegler, Andreas, 2006. "Green management and green technology - exploring the causal relationship," ZEW Discussion Papers 06-40, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
  9. Davide Consoli, 2005. "Cash and the Counter: Capabilities and Preferences in the Demand for Banking Technologies," Development and Comp Systems 0511010, EconWPA. [Downloadable!]
  10. Henri L.F. de Groot & Jacques Poot & Martijn J. Smit, 2007. "Agglomeration, Innovation and Regional Development: Theoretical Perspectives and Meta-Analysis," Tinbergen Institute Discussion Papers 07-079/3, Tinbergen Institute. [Downloadable!]
  11. Douhan, Robin & Henrekson, Magnus & Eliasson, Gunnar, 2006. "Israel M. Kirzner: An Outstanding Austrian Contributor to the Economics of Entrepreneurship," Working Paper Series 678, Research Institute of Industrial Economics. [Downloadable!]
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  12. Frenken, K. & Nuvolari, A., 2002. "Entropy Statistics as a Framework to Analyse Technological Evolution," ECIS Working Papers 02.15, Eindhoven Centre for Innovation Studies, Eindhoven University of Technology. [Downloadable!]
  13. Davide Consoli, 2005. "Cash and the Counter: Capabilities and Preferences in the Demand for Banking Technologies," Industrial Organization 0511001, EconWPA. [Downloadable!]
  14. Sandra Tavares Silva & Aurora A.C. Teixeira, 2006. "An evolutionary model of firms' institutional behavior focusing on labor decisions," FEP Working Papers 227, Universidade do Porto, Faculdade de Economia do Porto. [Downloadable!]
  15. Trenton Smith, 2002. "The McDonald's Equilibrium: Advertising, Empty Calories, and the Endogenous Determination of Dietary Preferences," University of California at Santa Barbara, Economics Working Paper Series 17-02, Department of Economics, UC Santa Barbara. [Downloadable!]
    Other versions:
  16. Ulrich Witt, 2006. "Evolutionary Economics and Psychology," Papers on Econonmics and Evolution 2006-13, Max Planck Institute of Economics, Evolutionary Economics Group.
  17. Sandra T. Silva & Jorge M. S. Valente & Aurora A. C. Teixeira, 2007. "An evolutionary model of industry dynamics and firms' institutional behavior with job search, bargaining and matching," FEP Working Papers 241, Universidade do Porto, Faculdade de Economia do Porto. [Downloadable!]
  18. Johannes Hers & Niek Nahuis, 2004. "The Tower Of Babel? The Innovation System Approach Versus Mainstream Economics," Method and Hist of Econ Thought 0403001, EconWPA. [Downloadable!]
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