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Evolutionary Economics and Psychology

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  • Ulrich Witt

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Abstract

Evolutionary economics is a paradigm for explaining the transformation of the economy. To achieve its goal, it needs being founded on a proper theory of economic behavior. The paper discusses these foundations. It is argued that the historical malleability of economic behavior is based on the interactions between innate behavior dispositions and adaptation mechanisms on the one hand and the limited, and always selective, cognitive and observational learning that contributes to an ever more extended and differentiated action knowledge. The implications of this interpretation are outlined in an exemplary fashion for the case of the evolution and growth of consumption. Length 29 pages

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Bibliographic Info

Paper provided by Philipps University Marburg, Department of Geography in its series Papers on Economics and Evolution with number 2006-13.

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Date of creation: Oct 2006
Date of revision:
Handle: RePEc:esi:evopap:2006-13

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References

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  1. Wilhelm Ruprecht, 2005. "The historical development of the consumption of sweeteners - a learning approach," Journal of Evolutionary Economics, Springer, vol. 15(3), pages 247-272, 08.
  2. Geoffrey M. Hodgson, 2002. "Darwinism in economics: from analogy to ontology," Journal of Evolutionary Economics, Springer, vol. 12(3), pages 259-281.
  3. 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.
  4. van Raaij, W Fred, 1985. "Attribution of Causality to Economic Actions and Events," Kyklos, Wiley Blackwell, vol. 38(1), pages 3-19.
  5. Richard R. Nelson, 1995. "Recent Evolutionary Theorizing about Economic Change," Journal of Economic Literature, American Economic Association, vol. 33(1), pages 48-90, March.
  6. Richard R. Nelson & Sidney G. Winter, 2002. "Evolutionary Theorizing in Economics," Journal of Economic Perspectives, American Economic Association, vol. 16(2), pages 23-46, Spring.
  7. Kahneman, Daniel & Wakker, Peter P & Sarin, Rakesh, 1997. "Back to Bentham? Explorations of Experienced Utility," The Quarterly Journal of Economics, MIT Press, vol. 112(2), pages 375-405, May.
  8. Ulrich Witt, 2006. "Evolutionary Economics," Papers on Economics and Evolution 2006-05, Max Planck Institute of Economics, Evolutionary Economics Group.
  9. Warke, Tom, 2000. "Mathematical Fitness in the Evolution of the Utility Concept from Bentham to Jevons to Marshall," Journal of the History of Economic Thought, Cambridge University Press, vol. 22(01), pages 5-27, March.
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Cited by:
  1. Peter Earl & Tim Wakeley, 2010. "Alternative perspectives on connections in economic systems," Journal of Evolutionary Economics, Springer, vol. 20(2), pages 163-183, April.

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