Advanced Search
MyIDEAS: Login

A Neo-Darwinian Foundation of Evolutionary Economics. With an Application to the Theory of the Firm

Contents:

Author Info

Registered author(s):

    Abstract

    The focus of evolutionary economics is a process of continuous economic and organizational change. Currently there is no agreement on the explanation of economic evolution. Rather there are competing interpretations. To achieve a common understanding of economic evolution, from the perspective of the history of economic thought, at first the theoretical approaches of Schumpeter and Marshall with regard to economic development or evolution are dealt with. After that, a concept of socio-economic evolution in broad agreement with evolution in nature is elaborated. It is summed up in the version of a generalized Darwinism. In this, evolution is seen as a process of change that leads to the adaptation of complex systems, the result of the causal interaction among variation, selection and retention of variety. As a (slightly) different interpretation the presently predominating approach of neo-Schumpeterian evolutionary economics is presented. It has gained wide application to the theory of innovation and later - based on Penrose - to resource-based theories of the firm. In this the dynamic process of the creation and exploitation of resources, mainly knowledge, turns out to be the centre of attention of an evolutionary theory of the firm.

    Download Info

    If 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.
    File URL: http://www.wiwi.uni-augsburg.de/vwl/institut/paper/309.pdf
    Download Restriction: no

    Bibliographic Info

    Paper provided by Universitaet Augsburg, Institute for Economics in its series Discussion Paper Series with number 309.

    as in new window
    Length: pages
    Date of creation: Feb 2010
    Date of revision:
    Handle: RePEc:aug:augsbe:0309

    Contact details of provider:
    Postal: Universitaetsstrasse 16, D-86159 Augsburg, Germany
    Phone: +49 821 598 4060
    Fax: +49 821 598 4217
    Email:
    Web page: http://www.wiwi.uni-augsburg.de/vwl/institut
    More information through EDIRC

    Related research

    Keywords: Economic evolution; Schumpeter and Marshall; Generalized Darwinism; Evolutionary theory of the firm;

    Find related papers by JEL classification:

    This paper has been announced in the following NEP Reports:

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Dosi, Giovanni, 1988. "Sources, Procedures, and Microeconomic Effects of Innovation," Journal of Economic Literature, American Economic Association, vol. 26(3), pages 1120-71, September.
    2. Garrouste, Pierre & Saussier, Stephane, 2005. "Looking for a theory of the firm: Future challenges," Journal of Economic Behavior & Organization, Elsevier, vol. 58(2), pages 178-199, October.
    3. Ulrich Witt, 2004. "On the proper interpretation of 'evolution' in economics and its implications for production theory," Journal of Economic Methodology, Taylor & Francis Journals, vol. 11(2), pages 125-146.
    4. Fulvio Castellacci, 2007. "Evolutionary And New Growth Theories. Are They Converging?," Journal of Economic Surveys, Wiley Blackwell, vol. 21(3), pages 585-627, 07.
    5. Dosi, Giovanni & Nelson, Richard R, 1994. "An Introduction to Evolutionary Theories in Economics," Journal of Evolutionary Economics, Springer, vol. 4(3), pages 153-72, September.
    6. Richard Nelson, 2006. "Evolutionary social science and universal Darwinism," Journal of Evolutionary Economics, Springer, vol. 16(5), pages 491-510, December.
    7. Teece, David J. & Rumelt, Richard & Dosi, Giovanni & Winter, Sidney, 1994. "Understanding corporate coherence : Theory and evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 23(1), pages 1-30, January.
    8. Jan Fagerberg, 2003. "Schumpeter and the revival of evolutionary economics: an appraisal of the literature," Journal of Evolutionary Economics, Springer, vol. 13(2), pages 125-159, 04.
    9. Richard R. Nelson, 1995. "Recent Evolutionary Theorizing about Economic Change," Journal of Economic Literature, American Economic Association, vol. 33(1), pages 48-90, March.
    10. Winter, Sidney G, 1988. "On Coase, Competence, and the Corporation," Journal of Law, Economics and Organization, Oxford University Press, vol. 4(1), pages 163-80, Spring.
    11. Howard Aldrich & Geoffrey Hodgson & David Hull & Thorbjørn Knudsen & Joel Mokyr & Viktor Vanberg, 2008. "In defence of generalized Darwinism," Journal of Evolutionary Economics, Springer, vol. 18(5), pages 577-596, October.
    12. Ulrich Witt, 2006. "Evolutionary Economics," Papers on Economics and Evolution 2006-05, Max Planck Institute of Economics, Evolutionary Economics Group.
    13. Foss, Nicolai Juul, 1993. "Theories of the Firm: Contractual and Competence Perspectives," Journal of Evolutionary Economics, Springer, vol. 3(2), pages 127-44, May.
    14. Simon, Herbert A, 1979. "Rational Decision Making in Business Organizations," American Economic Review, American Economic Association, vol. 69(4), pages 493-513, September.
    15. Fagerberg, Jan & Verspagen, Bart, 2002. "Technology-gaps, innovation-diffusion and transformation: an evolutionary interpretation," Research Policy, Elsevier, vol. 31(8-9), pages 1291-1304, December.
    16. Guido Buenstorf, 2006. "How useful is generalized Darwinism as a framework to study competition and industrial evolution?," Journal of Evolutionary Economics, Springer, vol. 16(5), pages 511-527, December.
    17. Loasby, Brian J., 2002. "The evolution of knowledge: beyond the biological model," Research Policy, Elsevier, vol. 31(8-9), pages 1227-1239, December.
    18. Geoffrey M. Hodgson, 2002. "Darwinism in economics: from analogy to ontology," Journal of Evolutionary Economics, Springer, vol. 12(3), pages 259-281.
    19. Markus C. Becker, 2004. "Organizational routines: a review of the literature," Industrial and Corporate Change, Oxford University Press, vol. 13(4), pages 643-678, August.
    20. Christian Cordes, 2006. "Darwinism in economics: from analogy to continuity," Journal of Evolutionary Economics, Springer, vol. 16(5), pages 529-541, December.
    21. 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.
    22. Kenneth Arrow, 1962. "Economic Welfare and the Allocation of Resources for Invention," NBER Chapters, in: The Rate and Direction of Inventive Activity: Economic and Social Factors, pages 609-626 National Bureau of Economic Research, Inc.
    23. Roncaglia,Alessandro, 2006. "The Wealth of Ideas," Cambridge Books, Cambridge University Press, number 9780521691871, October.
    24. Ashish Arora & Andrea Fosfuri & Alfonso Gambardella, 2004. "Markets for Technology: The Economics of Innovation and Corporate Strategy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262511819.
    25. Ulrich Witt, 2008. "What is specific about evolutionary economics?," Journal of Evolutionary Economics, Springer, vol. 18(5), pages 547-575, October.
    26. Hodgson, Geoffrey M, 1993. "The Mecca of Alfred Marshall," Economic Journal, Royal Economic Society, vol. 103(417), pages 406-15, March.
    27. Giovanni Dosi & Luigi Marengo, 2007. "On the Convergence of Evolutionary and Behavioral Theories of Organizations: A Tentative Roadmap," LEM Papers Series 2007/01, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    28. Antonelli, Cristiano, 1999. "The Evolution of the Industrial Organisation of the Production of Knowledge," Cambridge Journal of Economics, Oxford University Press, vol. 23(2), pages 243-60, March.
    29. Malerba, Franco, 1992. "Learning by Firms and Incremental Technical Change," Economic Journal, Royal Economic Society, vol. 102(413), pages 845-59, July.
    30. Jack Vromen, 2004. "Conjectural revisionary economic ontology: Outline of an ambitious research agenda for evolutionary economics," Journal of Economic Methodology, Taylor & Francis Journals, vol. 11(2), pages 213-247.
    31. Ulrich Lichtenthaler & Eckhard Lichtenthaler, 2009. "A Capability-Based Framework for Open Innovation: Complementing Absorptive Capacity," Journal of Management Studies, Wiley Blackwell, vol. 46(8), pages 1315-1338, December.
    32. Daniel F. Spulber, 2003. "The intermediation theory of the firm: integrating economic and management approaches to strategy," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 24(4), pages 253-266.
    33. Malerba, Franco & Orsenigo, Luigi, 2000. "Knowledge, Innovation Activities and Industrial Evolution," Industrial and Corporate Change, Oxford University Press, vol. 9(2), pages 289-313, June.
    34. Geoffrey Hodgson & Thorbjørn Knudsen, 2004. "The firm as an interactor: firms as vehicles for habits and routines," Journal of Evolutionary Economics, Springer, vol. 14(3), pages 281-307, 07.
    35. Margaret A. Peteraf & Jay B. Barney, 2003. "Unraveling the resource-based tangle," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 24(4), pages 309-323.
    36. U. Witt, 2003. "The Evolutionary Perspective on Organizational Change and the Theory of the Firm," Papers on Economics and Evolution 2003-07, Max Planck Institute of Economics, Evolutionary Economics Group.
    37. Witt, Ulrich, 1997. "Self-organization and economics--what is new?," Structural Change and Economic Dynamics, Elsevier, vol. 8(4), pages 489-507, October.
    38. Elliott, John E., 1983. "Schumpeter and the theory of capitalist economic development," Journal of Economic Behavior & Organization, Elsevier, vol. 4(4), pages 277-308, December.
    39. G. Silverberg & B. Verspagen, 1995. "Evolutionary Theorizing on Economic Growth," Working Papers wp95078, International Institute for Applied Systems Analysis.
    40. Thorbj, rn Knudsen, 2002. "Economic selection theory," Journal of Evolutionary Economics, Springer, vol. 12(4), pages 443-470.
    41. Schumpeter, Joseph A., 1947. "The Creative Response in Economic History," The Journal of Economic History, Cambridge University Press, vol. 7(02), pages 149-159, November.
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:aug:augsbe:0309. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dr. Albrecht Bossert).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.