Evolutionary Concepts in Economics
AbstractEndogenous change in the economy is caused by innovative activities of the economic agents. The paper discusses how hypotheses on innovative activities which account for the epistemological problems implied by novelty can be developed. Considerations relating to these problems suggest population thinking, a typical attitude of theories dealing with evolution. Two generic features resulting from such a perspective, frequency-dependency and selection effect, are explored together with their common ground in the notion of replicator dynamics. The paper concludes with a reappraisal of classical notions of competition, the coordinating power of markets and long-run tendencies in the economy.
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Bibliographic InfoArticle provided by Eastern Economic Association in its journal Eastern Economic Journal.
Volume (Year): 18 (1992)
Issue (Month): 4 (Fall)
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More information through EDIRC
Epistemological; Evolution; Evolutionary;
Find related papers by JEL classification:
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
- B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ulrich Witt, 2006. "Evolutionary Economics," Papers on Economics and Evolution 2006-05, Max Planck Institute of Economics, Evolutionary Economics Group.
- Granovetter, Mark & Soong, Roland, 1986. "Threshold models of interpersonal effects in consumer demand," Journal of Economic Behavior & Organization, Elsevier, vol. 7(1), pages 83-99, March.
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"Evolutionary Theories in Environmental and Resource Economics: Approaches and Applications,"
Tinbergen Institute Discussion Papers
98-122/3, Tinbergen Institute.
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- Rizzello Salvatore, 2002. "Mind and choice in economics," CESMEP Working Papers 200206, University of Turin.
- Jeroen C.J.M. van den Bergh & John M. Gowdy, 1998. "Evolutionary Theories in Environmental and Resource Economics: Approaches and Applications," Tinbergen Institute Discussion Papers 98-122/3, Tinbergen Institute.
- repec:dgr:uvatin:2098122 is not listed on IDEAS
- Stam, F.C., 2006.
"A Process Model of Locational Change in Entrepreneurial Firms: An Evolutionary Perspective,"
ERIM Report Series Research in Management
ERS-2006-014-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
- Erik Stam, 2006. "A Process Model of Locational Change in Entrepreneurial Firms: An Evolutionary Perspective," Papers in Evolutionary Economic Geography (PEEG) 0604, Utrecht University, Section of Economic Geography, revised Mar 2006.
- J. W. Stoelhorst, 2010. "The firm as a Darwin machine: How Generalized Darwinism can further the development of an evolutionary theory of economic growth," Papers on Economics and Evolution 2010-19, Max Planck Institute of Economics, Evolutionary Economics Group.
- Zhao, Liang & Zhu, Xian Chen, 2007. "A Discussion on Empirical Micro-Bases of Hayek’s Methodological Individualism," MPRA Paper 3862, University Library of Munich, Germany.
- Dedeurwaerdere, Tom, 2005. "From bioprospecting to reflexive governance," Ecological Economics, Elsevier, vol. 53(4), pages 473-491, June.
- Klaus Reiner Schenk-Hoppé, . "Random Dynamical Systems in Economics," IEW - Working Papers 067, Institute for Empirical Research in Economics - University of Zurich.
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