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Economic selection theory

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  • Thorbj, rn Knudsen

    ()
    (Department of Marketing, University of Southern Denmark, Odense Campus, Campusvej 55, 5230 Odense, Denmark)

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    Abstract

    The present article provides a minimal description of the causal structure of economic selection theory and outlines how the internal selection dynamics of business organisations can be reconciled with selection in competitive markets. In addition to generic similarity in terms of the Darwinian principles of variation, continuity and selection, it is argued that economic selection theory should mimic the causal structure of neo-Darwinian theory. Two of the most influential explanations of economic evolution, Alchian's and Nelson and Winter's, are used to illustrate how this could be achieved.

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    Bibliographic Info

    Article provided by Springer in its journal Journal of Evolutionary Economics.

    Volume (Year): 12 (2002)
    Issue (Month): 4 ()
    Pages: 443-470

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    Handle: RePEc:spr:joevec:v:12:y:2002:i:4:p:443-470

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    Web page: http://link.springer.de/link/service/journals/00191/index.htm

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    Related research

    Keywords: Economic selection theory - Competitive selection - Managerial selection - Local copy selection - Routines - Replication - Evolutionary economics - Darwinism;

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