IDEAS home Printed from https://ideas.repec.org/a/bla/scotjp/v64y2017i4p392-418.html
   My bibliography  Save this article

Prior Commitment and Uncertainty in Complex Economic Systems: Reinstating History in the Core of Economic Analysis

Author

Listed:
  • John Foster

Abstract

No abstract is available for this item.

Suggested Citation

  • John Foster, 2017. "Prior Commitment and Uncertainty in Complex Economic Systems: Reinstating History in the Core of Economic Analysis," Scottish Journal of Political Economy, Scottish Economic Society, vol. 64(4), pages 392-418, September.
    • Handle: RePEc:bla:scotjp:v:64:y:2017:i:4:p:392-418
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1111/sjpe.12138
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Kurt Dopfer & John Foster & Jason Potts, 2004. "Micro-meso-macro," Journal of Evolutionary Economics, Springer, vol. 14(3), pages 263-279, July.
    2. Uwe Cantner & Jean-Luc Gaffard & Lionel Nesta, 2008. "Schumpeterian perspectives on innovation, competition and growth," Journal of Evolutionary Economics, Springer, vol. 18(3), pages 291-293, August.
    3. Uwe Cantner & Jean-Luc Gaffard & Lionel Nesta (ed.), 2009. "Schumpeterian Perspectives on Innovation, Competition and Growth," Springer Books, Springer, number 978-3-540-93777-7, September.
    4. Kurt Dopfer, 1986. "The Histonomic Approach to Economics: Beyond Pure Theory and Pure Experience," Journal of Economic Issues, Taylor & Francis Journals, vol. 20(4), pages 989-1010, December.
    5. Havranek, Tomas & Rusnak, Marek & Sokolova, Anna, 2017. "Habit formation in consumption: A meta-analysis," European Economic Review, Elsevier, vol. 95(C), pages 142-167.
    6. Foster, John & Metcalfe, J. Stan, 2012. "Economic emergence: An evolutionary economic perspective," Journal of Economic Behavior & Organization, Elsevier, vol. 82(2), pages 420-432.
    7. David Simpson, 2013. "The Rediscovery of Classical Economics," Books, Edward Elgar Publishing, number 15080.
    8. Liebowitz, S J & Margolis, Stephen E, 1995. "Path Dependence, Lock-in, and History," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 11(1), pages 205-226, April.
    9. Witt, Ulrich & Schwesinger, Georg, 2013. "Phylogenetic footprints in organizational behavior," Journal of Economic Behavior & Organization, Elsevier, vol. 90(S), pages 33-44.
    10. John Foster, 2005. "From simplistic to complex systems in economics," Cambridge Journal of Economics, Oxford University Press, vol. 29(6), pages 873-892, November.
    11. John Foster, 2000. "Competitive selection, self-organisation and Joseph A. Schumpeter," Journal of Evolutionary Economics, Springer, vol. 10(3), pages 311-328.
    12. Christopher D. Carroll & Jiri Slacalek & Martin Sommer, 2011. "International Evidence on Sticky Consumption Growth," The Review of Economics and Statistics, MIT Press, vol. 93(4), pages 1135-1145, November.
    13. John Foster, 2015. "Energy, Knowledge and Economic Growth," Economic Complexity and Evolution, in: Andreas Pyka & John Foster (ed.), The Evolution of Economic and Innovation Systems, edition 127, pages 9-39, Springer.
    14. Pagan, A.R. & Pesaran, M. Hashem, 2008. "Econometric analysis of structural systems with permanent and transitory shocks," Journal of Economic Dynamics and Control, Elsevier, vol. 32(10), pages 3376-3395, October.
    15. Pollak, Robert A, 1976. "Interdependent Preferences," American Economic Review, American Economic Association, vol. 66(3), pages 309-320, June.
    16. Brendan Markey-Towler, 2016. "Law of the jungle: firm survival and price dynamics in evolutionary markets," Journal of Evolutionary Economics, Springer, vol. 26(3), pages 655-696, July.
    17. Jay P. Carlson & Leslie H. Vincent & David M. Hardesty & William O. Bearden, 2009. "Objective and Subjective Knowledge Relationships: A Quantitative Analysis of Consumer Research Findings," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 35(5), pages 864-876, October.
    18. Edward C. Prescott, 2006. "The Transformation of Macroeconomic Policy and Research," The American Economist, Sage Publications, vol. 50(1), pages 3-20, March.
    19. David, Paul A, 1985. "Clio and the Economics of QWERTY," American Economic Review, American Economic Association, vol. 75(2), pages 332-337, May.
    20. David F. Hendry, 2013. "Econometric Modelling: The ‘Consumption Function’ In Retrospect," Scottish Journal of Political Economy, Scottish Economic Society, vol. 60(5), pages 495-522, November.
    21. Damasio, Antonio & Damasio, Hanna, 2016. "Exploring the concept of homeostasis and considering its implications for economics," Journal of Economic Behavior & Organization, Elsevier, vol. 126(PB), pages 125-129.
    22. Peter Allen, 2014. "Evolution: complexity, uncertainty and innovation," Journal of Evolutionary Economics, Springer, vol. 24(2), pages 265-289, April.
    23. Grazia Cecere & Nicoletta Corrocher & Cédric Gossart & Muge Ozman, 2014. "Lock-in and path dependence: an evolutionary approach to eco-innovations," Journal of Evolutionary Economics, Springer, vol. 24(5), pages 1037-1065, November.
    24. David J. Teece & Gary Pisano & Amy Shuen, 1997. "Dynamic capabilities and strategic management," Strategic Management Journal, Wiley Blackwell, vol. 18(7), pages 509-533, August.
    25. Antonelli, Cristiano, 1997. "The economics of path-dependence in industrial organization," International Journal of Industrial Organization, Elsevier, vol. 15(6), pages 643-675, October.
    26. John Foster, 2016. "The Australian growth miracle: an evolutionary macroeconomic explanation," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 40(3), pages 871-894.
    27. Leibenstein, Harvey, 1978. "General X-Efficiency Theory and Economic Development," OUP Catalogue, Oxford University Press, number 9780195023800.
    28. Witt, Ulrich, 1997. ""Lock-in" vs. "critical masses" -- Industrial change under network externalities," International Journal of Industrial Organization, Elsevier, vol. 15(6), pages 753-773, October.
    29. Ron Martin, 2010. "Roepke Lecture in Economic Geography—Rethinking Regional Path Dependence: Beyond Lock-in to Evolution," Economic Geography, Taylor & Francis Journals, vol. 86(1), pages 1-27, January.
    30. Pierre Garrouste & Stavros Ioannides (ed.), 2001. "Evolution and Path Dependence in Economic Ideas," Books, Edward Elgar Publishing, number 1790.
    31. Jason Potts, 2000. "The New Evolutionary Microeconomics," Books, Edward Elgar Publishing, number 2258.
    32. Boland, Lawrence A., 2017. "Equilibrium Models in Economics," OUP Catalogue, Oxford University Press, number 9780190274337.
    33. Lance A. Fisher & Hyeon‐Seung Huh & Adrian R. Pagan, 2016. "Econometric Methods for Modelling Systems With a Mixture of i(1) and i(0) Variables," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 31(5), pages 892-911, August.
    34. John Foster & Jason Potts, 2009. "A micro-meso-macro perspective on the methodology of evolutionary economics: Integrating history, simulation and econometrics," Springer Books, in: Uwe Cantner & Jean-Luc Gaffard & Lionel Nesta (ed.), Schumpeterian Perspectives on Innovation, Competition and Growth, pages 53-68, Springer.
    35. John Foster & J. Stanley Metcalfe (ed.), 2001. "Frontiers of Evolutionary Economics," Books, Edward Elgar Publishing, number 2234.
    36. Elinor Ostrom, 2010. "Beyond Markets and States: Polycentric Governance of Complex Economic Systems," American Economic Review, American Economic Association, vol. 100(3), pages 641-672, June.
    37. G. M.P. Swann, 2009. "The Economics of Innovation," Books, Edward Elgar Publishing, number 13211.
    38. Arthur, W Brian, 1989. "Competing Technologies, Increasing Returns, and Lock-In by Historical Events," Economic Journal, Royal Economic Society, vol. 99(394), pages 116-131, March.
    39. Foster, John, 2011. "Energy, aesthetics and knowledge in complex economic systems," Journal of Economic Behavior & Organization, Elsevier, vol. 80(1), pages 88-100.
    40. Foster, John & Wild, Phillip, 1999. "Econometric Modelling in the Presence of Evolutionary Change," Cambridge Journal of Economics, Oxford University Press, vol. 23(6), pages 749-770, November.
    41. Richard Nelson, 2013. "Demand, supply, and their interaction on markets, as seen from the perspective of evolutionary economic theory," Journal of Evolutionary Economics, Springer, vol. 23(1), pages 17-38, January.
    42. Ulrich Witt, 2006. "Evolutionary concepts in economics and biology," Journal of Evolutionary Economics, Springer, vol. 16(5), pages 473-476, December.
    43. Foster, John, 1993. "Economics and the Self-Organisation Approach: Alfred Marshall Revisited," Economic Journal, Royal Economic Society, vol. 103(419), pages 975-991, July.
    44. Tony Lawson, 2015. "Process, order and stability in Veblen," Cambridge Journal of Economics, Oxford University Press, vol. 39(4), pages 993-1030.
    45. Wilson, James & Hill, J. & Kersula, M. & Wilson, C.L. & Whitsel, L. & Yan, L. & Acheson, J. & Chen, Y. & Cleaver, C. & Congdon, C. & Hayden, A. & Hayes, P. & Johnson, T. & Morehead, G. & Steneck, R. &, 2013. "Costly information and the evolution of self-organization in a small, complex economy," Journal of Economic Behavior & Organization, Elsevier, vol. 90(S), pages 76-93.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Foster, John, 2021. "In search of a suitable heuristic for evolutionary economics: from generalized Darwinism to economic self-organisation," MPRA Paper 106146, University Library of Munich, Germany.
    2. John Foster, 2021. "The US consumption function: a new perspective," Journal of Evolutionary Economics, Springer, vol. 31(3), pages 773-798, July.
    3. Brendan Markey‐Towler, 2019. "The New Microeconomics: A Psychological, Institutional, and Evolutionary Paradigm with Neoclassical Economics as a Special Case," American Journal of Economics and Sociology, Wiley Blackwell, vol. 78(1), pages 95-135, January.
    4. Michael Rothgang & Jochen Dehio & Bernhard Lageman, 2019. "Analysing the effects of cluster policy: What can we learn from the German leading-edge cluster competition?," The Journal of Technology Transfer, Springer, vol. 44(6), pages 1673-1697, December.
    5. Sheila Dow, 2020. "Gender and the future of macroeconomics: an evolutionary approach," Review of Evolutionary Political Economy, Springer, vol. 1(1), pages 55-66, May.
    6. Sakthivel, Rathinasamy & Suveetha, V.T. & Nithya, Venkatesh & Sakthivel, Ramalingam, 2020. "Finite-time fault detection filter design for complex systems with multiple stochastic communication and distributed delays," Chaos, Solitons & Fractals, Elsevier, vol. 136(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Foster, John & Metcalfe, J. Stan, 2012. "Economic emergence: An evolutionary economic perspective," Journal of Economic Behavior & Organization, Elsevier, vol. 82(2), pages 420-432.
    2. Foster, John, 2021. "In search of a suitable heuristic for evolutionary economics: from generalized Darwinism to economic self-organisation," MPRA Paper 106146, University Library of Munich, Germany.
    3. Potts, Jason & Foster, John & Straton, Anna, 2010. "An entrepreneurial model of economic and environmental co-evolution," Ecological Economics, Elsevier, vol. 70(2), pages 375-383, December.
    4. Gigante, Anna Azzurra, 2016. "“Reviewing Path Dependence Theory in Economics: Micro–Foundations of Endogenous Change Processes”," MPRA Paper 75310, University Library of Munich, Germany.
    5. Kurt Dopfer, 2011. "Mesoeconomics: A Unified Approach to Systems Complexity and Evolution," Chapters, in: Cristiano Antonelli (ed.), Handbook on the Economic Complexity of Technological Change, chapter 13, Edward Elgar Publishing.
    6. John Foster, 2021. "The US consumption function: a new perspective," Journal of Evolutionary Economics, Springer, vol. 31(3), pages 773-798, July.
    7. John Foster, 2005. "From simplistic to complex systems in economics," Cambridge Journal of Economics, Oxford University Press, vol. 29(6), pages 873-892, November.
    8. John Foster, 2011. "Evolutionary macroeconomics: a research agenda," Journal of Evolutionary Economics, Springer, vol. 21(1), pages 5-28, February.
    9. Bleda, Mercedes & del Río, Pablo, 2013. "The market failure and the systemic failure rationales in technological innovation systems," Research Policy, Elsevier, vol. 42(5), pages 1039-1052.
    10. Foster, John, 2011. "Energy, aesthetics and knowledge in complex economic systems," Journal of Economic Behavior & Organization, Elsevier, vol. 80(1), pages 88-100.
    11. Martin Henning & Erik Stam & Rik Wenting, 2013. "Path Dependence Research in Regional Economic Development: Cacophony or Knowledge Accumulation?," Regional Studies, Taylor & Francis Journals, vol. 47(8), pages 1348-1362, September.
    12. John Foster & Jason Potts, 2009. "A micro-meso-macro perspective on the methodology of evolutionary economics: Integrating history, simulation and econometrics," Springer Books, in: Uwe Cantner & Jean-Luc Gaffard & Lionel Nesta (ed.), Schumpeterian Perspectives on Innovation, Competition and Growth, pages 53-68, Springer.
    13. Cristiano Antonelli, 2011. "The Economic Complexity of Technological Change: Knowledge Interaction and Path Dependence," Chapters, in: Cristiano Antonelli (ed.), Handbook on the Economic Complexity of Technological Change, chapter 1, Edward Elgar Publishing.
    14. Ron Martin & Peter Sunley, 2010. "Complexity Thinking and Evolutionary Economic Geography," Chapters, in: Ron Boschma & Ron Martin (ed.), The Handbook of Evolutionary Economic Geography, chapter 4, Edward Elgar Publishing.
    15. Roberta Capello & Camilla Lenzi, 2018. "The dynamics of regional learning paradigms and trajectories," Journal of Evolutionary Economics, Springer, vol. 28(4), pages 727-748, September.
    16. Uwe Cantner & Simone Vannuccini, 2017. "Innovation and lock-in," Chapters, in: Harald Bathelt & Patrick Cohendet & Sebastian Henn & Laurent Simon (ed.), The Elgar Companion to Innovation and Knowledge Creation, chapter 11, pages 165-181, Edward Elgar Publishing.
    17. John Foster, 2015. "Energy, Knowledge and Economic Growth," Economic Complexity and Evolution, in: Andreas Pyka & John Foster (ed.), The Evolution of Economic and Innovation Systems, edition 127, pages 9-39, Springer.
    18. Befort, N., 2021. "The promises of drop-in vs. functional innovations: The case of bioplastics," Ecological Economics, Elsevier, vol. 181(C).
    19. Dosi, Giovanni & Nelson, Richard R., 2010. "Technical Change and Industrial Dynamics as Evolutionary Processes," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 1, chapter 0, pages 51-127, Elsevier.
    20. Goldstein, Jenny E. & Neimark, Benjamin & Garvey, Brian & Phelps, Jacob, 2023. "Unlocking “lock-in” and path dependency: A review across disciplines and socio-environmental contexts," World Development, Elsevier, vol. 161(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:scotjp:v:64:y:2017:i:4:p:392-418. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/sesssea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.