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Propositions about novelty

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  • Witt, Ulrich

Abstract

The emergence of novelty is a ubiquitous feature in science, technology, and economic life. It is the crucial input to the growth of human knowledge. At the same time, novelty is one of the most amorphous concepts in scientific thought. Theorizing about novelty and its emergence faces notorious problems. This paper explores why this is so and what can be done to deal in a more systematic fashion with novelty. The notion of degrees of novelty is introduced, and its relationship with the concept of uncertainty is discussed. The results of the inquiry are summarized by a number of hypotheses.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Behavior & Organization.

Volume (Year): 70 (2009)
Issue (Month): 1-2 (May)
Pages: 311-320

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Handle: RePEc:eee:jeborg:v:70:y:2009:i:1-2:p:311-320

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Web page: http://www.elsevier.com/locate/jebo

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Keywords: Novelty Creativity Evolution Uncertainty Knowledge growth;

References

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  1. Gerald Silverberg & Bart Verspagen, 2003. "Breaking the waves: a Poisson regression approach to Schumpeterian clustering of basic innovations," Cambridge Journal of Economics, Oxford University Press, vol. 27(5), pages 671-693, September.
  2. Philip Johnson-Laird, 2005. "Flying bicycles: How the Wright brothers invented the airplane," Mind and Society: Cognitive Studies in Economics and Social Sciences, Fondazione Rosselli, vol. 4(1), pages 27-48, 06.
  3. Nancy Nersessian, 2002. "Abstraction via generic modeling in concept formation in science," Mind and Society: Cognitive Studies in Economics and Social Sciences, Fondazione Rosselli, vol. 3(1), pages 129-154, March.
  4. Weitzman, Martin L., 1998. "Recombinant Growth," Scholarly Articles 3708468, Harvard University Department of Economics.
  5. Hodgson, Geoffrey M. & Knudsen, Thorbjorn, 2006. "Why we need a generalized Darwinism, and why generalized Darwinism is not enough," Journal of Economic Behavior & Organization, Elsevier, vol. 61(1), pages 1-19, September.
  6. Rosser, J. Jr., 1992. "The dialogue between the economic and the ecologic theories of evolution," Journal of Economic Behavior & Organization, Elsevier, vol. 17(2), pages 195-215, March.
  7. Markose, Sheri M., 2004. "Novelty in complex adaptive systems (CAS) dynamics: a computational theory of actor innovation," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 344(1), pages 41-49.
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Citations

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Cited by:
  1. Martin Binder, 2014. "Should evolutionary economists embrace libertarian paternalism?," Journal of Evolutionary Economics, Springer, vol. 24(3), pages 515-539, July.
  2. Peeters, T.J.G., 2013. "External knowledge search and use in new product development," Open Access publications from Tilburg University urn:nbn:nl:ui:12-5906731, Tilburg University.
  3. Binder, Martin & Witt, Ulrich, 2012. "A critical note on the role of the capability approach for sustainability economics," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(5), pages 721-725.
  4. Cecere, Grazia, 2012. "Creative and adaptive responses in technological change," 23rd European Regional ITS Conference, Vienna 2012 60396, International Telecommunications Society (ITS).
  5. Andersson, Claes, 2011. "Splitting the replicator: Generalized Darwinism and the place of culture in nature," Journal of Economic Behavior & Organization, Elsevier, vol. 80(3), pages 657-669.
  6. John Foster & J. Stan Metcalfe, 2011. "Economic Emergence: an Evolutionary Economic Perspective," Papers on Economics and Evolution 2011-12, Philipps University Marburg, Department of Geography.
  7. Patrick Cohendet & Patrick Llerena & Laurent Simon, 2012. "THE ROUTINIZATION OF CREATIVITY: Lessons from the Case of a video-game Creative Powerhouse," Working Papers of BETA 2012-05, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
  8. Frank Beckenbach & Maria Daskalakis & David Hofmann, 2012. "Agent-based modelling of novelty creating behavior and sectoral growth effects—Linking the creative and the destructive side of innovation," Journal of Evolutionary Economics, Springer, vol. 22(3), pages 513-542, July.
  9. Grebel, Thomas, 2013. "On the tradeoff between similarity and diversity in the creation of novelty in basic science," Structural Change and Economic Dynamics, Elsevier, vol. 27(C), pages 66-78.
  10. Patrick Cohendet & Patrick Llerena & Laurent Simon, 2014. "The Routinization of Creativity, Lessons from the Case of a Video-game Creative Powerhouse," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 234(2-3), pages 120-141, April.
  11. Harper, David A. & Endres, Anthony M., 2012. "The anatomy of emergence, with a focus upon capital formation," Journal of Economic Behavior & Organization, Elsevier, vol. 82(2), pages 352-367.

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