Theorie und Empirie aus evolutionsökonomischer Sicht Theory and Empirical Facts in the Perspective of Evolutionary Economics
AbstractAccording to Colander, modern economics is economics of the model. Models have to be testable, in order to get a "theory with measurement". This procedure was recently criticized vehemently by Blaug maintaining that there is only little empirical progress in the economics of today. He makes the case for evolutionary economics because the latter is considering especially entrepreneurship and innovations, topics which are neglected by economists constructing and testing models. The reason for this is, as G.M. Hodgson tells us: "By its nature, novelty defies the boundary of formalism." Evolutionary economics stressing competition and market processes focuses on innovations and institutions, but its method - because of the involved complex relations - is not confined to simple testable models. This raises the question how theory is confronted with empirical facts in evolutionary economics. Taking into consideration that evolutionary economics has a preference for "pattern predictions" in the sense of von Hayek the author pleads for a plurality of empirical methods. The important role of the search for "invariant factors" in this context is analyzed, too.
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Bibliographic InfoArticle provided by Justus-Liebig University Giessen, Department of Statistics and Economics in its journal Journal of Economics and Statistics.
Volume (Year): 224 (2004)
Issue (Month): 1-2 (February)
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More information through EDIRC
Evolutionary economics; testability of economic models; pattern predictions; empirical facts; equilibrium versus disequilibrium;
Find related papers by JEL classification:
- B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
- B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Institutional; Evolutionary
- B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - 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.:
- David Colander, 2002.
"The Death of Neoclassical Economics,"
Middlebury College Working Paper Series
0237, Middlebury College, Department of Economics.
- Koch, Lambert, 1996. "Evolutorische Wirtschaftspolitik," Untersuchungen zur Ordnungstheorie und Ordnungspolitik, Mohr Siebeck, Tübingen & Walter Eucken Institut, Freiburg, Germany, edition 1, volume 33, number urn:isbn:9783161465550, November.
- Gort, Michael & Klepper, Steven, 1982. "Time Paths in the Diffusion of Product Innovations," Economic Journal, Royal Economic Society, vol. 92(367), pages 630-53, September.
- Gerhard Wegner, 1997. "Economic Policy From an Evolutionary Perspective: A New Approach," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 153(3), pages 485-, September.
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