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Evolutionary Economics and Psychology

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Author Info
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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Publisher Info
Paper provided by Max Planck Institute of Economics, Evolutionary Economics Group in its series Papers on Economics and Evolution with number 2006-13.

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

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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.:
  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. [Downloadable!] (restricted)
  2. Geoffrey M. Hodgson, 2002. "Darwinism in economics: from analogy to ontology," Journal of Evolutionary Economics, Springer, vol. 12(3), pages 259-281. [Downloadable!] (restricted)
  3. Richard R. Nelson, 1995. "Recent Evolutionary Theorizing about Economic Change," Journal of Economic Literature, American Economic Association, vol. 33(1), pages 48-90, March. [Downloadable!] (restricted)
  4. 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.
  5. repec:cup:jhisec:v:22:y:2000:i:01:p:5-27_00 is not listed on IDEAS
  6. Tom Warke, 2000. "Mathematical Fitness in the Evolution of the Utility Concept from Bentham to Jevons to Marshall," Journal of the History of Economic Thought, Taylor and Francis Journals, vol. 22(1), pages 5-27, March. [Downloadable!] (restricted)
  7. 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. [Downloadable!] (restricted)
  8. van Raaij, W Fred, 1985. "Attribution of Causality to Economic Actions and Events," Kyklos, Blackwell Publishing, vol. 38(1), pages 3-19.
  9. U. Witt, 2006. "Evolutionary Economics," Papers on Economics and Evolution 2006-05, Max Planck Institute of Economics, Evolutionary Economics Group.
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