Natural and Economic Selection - Lessons from the Evo-Devo and Multilevel Selection Debate
AbstractThis paper sheds new light on the concept of selection in evolutionary economics. The interpretation of natural evolution has experienced significant changes in the last decades, while these developments have been often ignored by economists. This is especially true for the concept of selection, a key concept in many evolutionary approaches. In economics as well as in biology, selection is seen as a central mechanism, which mediates for example the spread of information and innovation, the coordination of groups of agents and the optimization of their behavior. In this article we are aiming to explore the actual significance of selection as a major explanatory principle in economics. Starting with an analysis of a modern and modified understanding of the selection mechanism in nature we will draw some conclusions for its use in economics.
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Bibliographic InfoPaper provided by Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics in its series Jena Economic Research Papers with number 2013-014.
Date of creation: 03 Apr 2013
Date of revision:
Selection; Bioeconomics; Evo-Devo; Cultural Evolution; Multilevel Selection; Economic Theory;
Find related papers by JEL classification:
- B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
- B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
- B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Institutional; Evolutionary
- D03 - Microeconomics - - General - - - Behavioral Economics; Underlying Principles
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-04-06 (All new papers)
- NEP-EVO-2013-04-06 (Evolutionary Economics)
- NEP-HME-2013-04-06 (Heterodox Microeconomics)
- NEP-HPE-2013-04-06 (History & Philosophy of Economics)
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