Diversity Structure of the Schumpeterian Evolution : An Axiomatic Approach
AbstractThe purpose of the paper is to impose the diversity structure on the Schumpeterian evolution modelled axiomatically within a dynamical system approach to the Arrow- Debreu theory of general equilibrium. In this framework two basic forms of economic life studied by Schumpeter, i.e., the circular flow and economic development are investigated as specific properties of a dynamic system, where single production systems being the parts of the Debreu models change in the definite environment according to the rules of the Schumpeterian evolution. Moreover, the Sterling diversity-triplet concept based on subcategories of variety, balance and disparity, is slightly modified and applied to serve as a tool for rigorous analysis of innovative and cumulative changes in production system with respect to diversity structure. Finally, integrating diversity aspects into a dynamic system approach, the study identifies innovative processes as the source of growing diversity in the Schumpeterian vision of economic development.
Download InfoIf 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.
Bibliographic InfoPaper provided by KOF Swiss Economic Institute, ETH Zurich in its series KOF Working papers with number 06-153.
Length: 22 pages
Date of creation: Oct 2006
Date of revision:
diversity; Schumpeterian evolution; Arrow-Debreu theory; dynamic system approach;
Find related papers by JEL classification:
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-02-03 (All new papers)
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Lipieta, Agnieszka, 2010. "The Debreu private ownership economy with complementary commodities and prices," Economic Modelling, Elsevier, vol. 27(1), pages 22-27, January.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.