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Modeling of Technological Change

In: Mathematical Modeling in Economics, Ecology and the Environment

Author

Listed:
  • Natali Hritonenko

    (Prairie View A&M University)

  • Yuri Yatsenko

    (Houston Baptist University)

Abstract

Economic data for the last two centuries has demonstrated the presence of a self-sustaining mechanism of cumulative productivity growth, known as technical progress or technological change. In modern times, the technical progress affects not only the efficiency of the economy, but also the natural environment and entire lifestyle of human society. Section 3.1 provides a comprehensive review of major directions and trends in the modeling of technical progress, including: autonomous, induced, exogenous and endogenous, embodied and disembodied technological change, and technological change as a separate sector of the economy. Section 3.2 analyzes the classic Solow–Swan, Shell, and Ramsey models of economic dynamics with exogenous technological change. Section 3.3 explores modern one- and two-sector models with endogenous technological change, physical and human capital, and knowledge accumulation. Substitution, diffusion, and evolution models of technological innovations are briefly discussed in Sect. 3.4.

Suggested Citation

  • Natali Hritonenko & Yuri Yatsenko, 2013. "Modeling of Technological Change," Springer Optimization and Its Applications, in: Mathematical Modeling in Economics, Ecology and the Environment, edition 2, chapter 0, pages 53-78, Springer.
    • Handle: RePEc:spr:spochp:978-1-4614-9311-2_3
    DOI: 10.1007/978-1-4614-9311-2_3
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    Cited by:

    1. Olexandr Yemelyanov & Anastasiya Symak & Tetyana Petrushka & Roman Lesyk & Lilia Lesyk, 2018. "Assessment of the Technological Changes Impact on the Sustainability of State Security System of Ukraine," Sustainability, MDPI, vol. 10(4), pages 1-24, April.
    2. Olexandr Yemelyanov & Anastasiya Symak & Tetyana Petrushka & Roman Lesyk & Lilia Lesyk, 2018. "Evaluation of the Adaptability of the Ukrainian Economy to Changes in Prices for Energy Carriers and to Energy Market Risks," Energies, MDPI, vol. 11(12), pages 1-34, December.

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