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General selection theory and economic evolution: The Price equation and the replicator/interactor distinction

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Author Info
Thorbjørn Knudsen
Abstract

The purpose of the present article is to strengthen the conceptualisation of the principle of selection in theories of economic evolution and to help clarify a number of unsettled issues regarding the meaning of variety and continuity. In order to achieve this, the emerging general mathematical selection theory is introduced to identify the requirements of a general principle of selection and the specification of variety and continuity that follows from it. It is indicated how general selection theory can help advance evolutionary theories of economic change by clarifying the meaning of selection, and the possible role of habits and routines in economic selection.

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Publisher Info
Article provided by Taylor and Francis Journals in its journal Journal of Economic Methodology.

Volume (Year): 11 (2004)
Issue (Month): 2 (June)
Pages: 147-173
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Handle: RePEc:taf:jecmet:v:11:y:2004:i:2:p:147-173

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Related research
Keywords: Economic Evolution; General Selection Theory; Replicator/Interactor; Routine/Social Role;

Cited by:
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  1. J. Stan Metcalfe & John Foster, 2009. "Evolutionary Growth Theory," Discussion Papers Series 388, School of Economics, University of Queensland, Australia. [Downloadable!]
  2. G. Hodgson & T. Knudsen, 2004. "The Nature and Units of Social Selection," Papers on Economics and Evolution 2004-24, Max Planck Institute of Economics, Evolutionary Economics Group.
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  3. J.S Metcalfe, 2004. "Accounting for Evolution: An Assessment of the Population Method," Papers on Economics and Evolution 2004-21, Max Planck Institute of Economics, Evolutionary Economics Group. [Downloadable!]
  4. John Metcalfe, 2008. "Accounting for economic evolution: Fitness and the population method," Journal of Bioeconomics, Springer, vol. 10(1), pages 23-49, April. [Downloadable!] (restricted)
  5. Geoffrey Hodgson & Thorbjørn Knudsen, 2008. "In search of general evolutionary principles: Why Darwinism is too important to be left to the biologists," Journal of Bioeconomics, Springer, vol. 10(1), pages 51-69, April. [Downloadable!] (restricted)
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