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Bringing institutions into evolutionary economics: another view with links to changes in physical and social technologies

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  • Pavel Pelikan

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    Abstract

    Like Nelson (2002), I make a case for bringing institutions into evolutionary economics. But unlike Nelson, who defines institutions as social technologies consisting of rules-routines, I define them in agreement with North (1990) as humanly devised rules-constraints - such as formal law and informal social norms - but also view them, to accommodate most of Nelson's approach, as constraining the variety of rules-routines employable by agents. I show that this definition has advantages for communicating with modern institutional analysis, for clarifying how institutions can influence, and be influenced by, changes in physical and social technologies, and for producing policy implications. Copyright Springer Verlag Berlin/Heidelberg 2003

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    File URL: http://hdl.handle.net/10.1007/s00191-003-0157-9
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    Bibliographic Info

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

    Volume (Year): 13 (2003)
    Issue (Month): 3 (August)
    Pages: 237-258

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    Handle: RePEc:spr:joevec:v:13:y:2003:i:3:p:237-258

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

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    Related research

    Keywords: Institutions; Rules-constraints; Rules-routines; Social technologies; Economic evolutions;

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    Cited by:
    1. Simone Strambach, 2008. "Path Dependency and Path Plasticity: the Co-evolution of Institutions and Innovation - the German Customized Business Software Industry," Working Papers on Innovation and Space 2008-02, Philipps University Marburg, Department of Geography.
    2. Pelikan, Pavel, 2006. "Markets vs. Government when Rationality Is Unequally Bounded: Some Consequences of Cognitive Inequalities for Theory and Policy," Ratio Working Papers 85, The Ratio Institute, revised 03 Sep 2006.
    3. Pelikan, Pavel, 2004. "Interconnecting Ecolutionary, Institutional and Cognitive Economics: Six Steps towards Understanding the Six Links," Ratio Working Papers 48, The Ratio Institute.
    4. Marletto, Gerardo, 2009. "Heterodox environmental economics: theoretical strands in search of a paradigm," MPRA Paper 19933, University Library of Munich, Germany.
    5. H Lzl, Werner, 2006. "Convergence of financial systems: towards an evolutionary perspective," Journal of Institutional Economics, Cambridge University Press, vol. 2(01), pages 67-90, April.
    6. Heike Schroeder, 2011. "Application possibilities of the micro-meso-macro framework in economic geography," Papers in Evolutionary Economic Geography (PEEG) 1115, Utrecht University, Section of Economic Geography, revised Aug 2011.

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