General selection theory and economic evolution: The Price equation and the replicator/interactor distinction
AbstractThe 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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Journal of Economic Methodology.
Volume (Year): 11 (2004)
Issue (Month): 2 ()
Contact details of provider:
Web page: http://www.tandfonline.com/RJEC20
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- 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.
- Geoffrey Hodgson & Thorbjørn Knudsen, 2006.
"The nature and units of social selection,"
Journal of Evolutionary Economics,
Springer, vol. 16(5), pages 477-489, December.
- Esben Sloth Andersen & Jacob Rubæk Holm, 2013. "Directional, stabilizing and disruptive selection: An analysis of aspects of economic evolution based on Price’s equation," DRUID Working Papers 13-10, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
- 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.
- Hodgson, Geoffrey M. & Knudsen, Thorbjorn, 2006. "Why we need a generalized Darwinism, and why generalized Darwinism is not enough," Journal of Economic Behavior & Organization, Elsevier, vol. 61(1), pages 1-19, September.
- John Metcalfe, 2008. "Accounting for economic evolution: Fitness and the population method," Journal of Bioeconomics, Springer, vol. 10(1), pages 23-49, April.
- John Stanley Metcalfe & Ronnie Ramlogan, 2006. "Creative Destruction and the Measurement of Productivity Change," Revue de l'OFCE, Presses de Sciences-Po, vol. 97(5), pages 373-397.
- J. Stan Metcalfe & John Foster, 2009. "Evolutionary Growth Theory," Discussion Papers Series 388, School of Economics, University of Queensland, Australia.
- Price equation in Wikipedia English ne '')
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).
If references are entirely missing, you can add them using this form.