Advanced Search
MyIDEAS: Login to save this paper or follow this series

Hicks and Richardson on industrial change:analysis and policy

Contents:

Author Info

  • Mario Amendola

    (Università di Roma La Sapienza)

  • Sergio Bruno
  • Jean-Luc Gaffard

    (Observatoire Français des Conjonctures Économiques)

Abstract

This paper is aimed at showing the complementarity between Richardson's and Hicks' contributions as regards the sketching out of a proper analytical framework for dynamic analysis. These contributions deal with two essential analytical ingredients that the out-of-equilibrium analysis of processes of economic change calls for: investment, in the sense of construction of productive capacity, and the relations which must be established for construction looked at as a process over time. In particular, light is thrown on the specific co-ordination problem that characterizes a process of economic change; a problem that arises at the junction of two strictly related lags: the phase of construction of productive capacity - which entails sunk costs - and the delay of transmission of information - which implies uncertainty. The analytical framework thus sketched out helps to understand why the economic agents' interaction does not bring about chaotic results, as long as the decision-makers are characterized by roughly stable patterns of behaviour and/or as long as a fair amount of co-ordination takes place, through various forms of cognitive exchange. It helps to show that the adoption of routines, the compliance to rules and customs, communicative action, the sharing of expectations about the behaviour of the system, the search for explicit agreements, are all mechanisms (or strategies) producing some degree of co-ordination, which confer the required order and stability to the environment.

(This abstract was borrowed from another version of this item.)

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.ofce.sciences-po.fr/pdf/dtravail/WP2008-28.pdf
Download Restriction: no

Bibliographic Info

Paper provided by Observatoire Francais des Conjonctures Economiques (OFCE) in its series Documents de Travail de l'OFCE with number 2008-28.

as in new window
Length:
Date of creation: 2008
Date of revision:
Handle: RePEc:fce:doctra:0828

Contact details of provider:
Postal: 69, quai d'Orsay - 75007 PARIS
Phone: 01 44 18 54 00
Fax: 01 45 56 06 15
Email:
Web page: http://www.ofce.sciences-po.fr/
More information through EDIRC

Related research

Keywords:

Other versions of this item:

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. Richardson, G B, 1972. "The Organisation of Industry," Economic Journal, Royal Economic Society, vol. 82(327), pages 883-96, September.
  2. Amendola, M & Gaffard, J L, 1992. "Intertemporal Complementarity and Money in an Economy out of Equilibrium," Journal of Evolutionary Economics, Springer, vol. 2(2), pages 131-45, August.
  3. Amendola, Mario & Bruno, Sergio, 1990. "The behaviour of the innovative firm: Relations to the environment," Research Policy, Elsevier, vol. 19(5), pages 419-433, October.
  4. Hicks, J R, 1970. "A Neo-Austrian Growth Theory," Economic Journal, Royal Economic Society, vol. 80(318), pages 257-81, June.
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:fce:doctra:0828. 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: (Francesco Saraceno).

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.