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System dynamics of collective knowledge from gradualism and soltationism to punctuated change

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Antonelli Cristiano () (University of Turin)

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Abstract

The economics of localized technological change provides an original framework to model the dynamics of introduction of new technologies as the result of the interaction between the inducement to change the technology generated by the mismatch between plans and expectations. Collective knowledge emerges when knowledge widening leads to knowledge deepening. The interplay between networking costs and knowledge supermodularity can explain both punctuated and graduaI change. Smooth, Marshallian dynamics can easily generate major Schumpeterian discontinuities. The divide between the theories of punctuated and gradual growth can be reconciled when the essence of the Schumpeterian and Marshallian approach is properly combined. Small variations in the parameters can generate either gradual or discontinuous changes. Punctuated technological change is likely to take place when the interplay between positive and negative knowledge extemalities leads to the creation of commons of collective knowledge and hence new technological systems. The correct appreciation of the interactions between individual action and the characteristics of the environrnent makes room for complex dynamics and provides an integrated framework able to explain in a single context both Marshallian gradualism and Schumpeterian discontinuities.

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File URL: http://www.de.unito.it/web/member/segreteria/WP/Momigliano/2004/4_WP_Momigliano.pdf
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Paper provided by University of Turin in its series Dipartimento di Economia "S. Cognetti de Martiis" LEI & BRICK - Laboratorio di economia dell'innovazione "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio Carlo Alberto. WP series with number 200404.

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Length: 31 pages
Date of creation: Apr 2004
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Handle: RePEc:uto:labeco:200404

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Web page: http://www.unito.it/
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  1. Mokyr, Joel, 1990. "Punctuated Equilibria and Technological Progress," American Economic Review, American Economic Association, vol. 80(2), pages 350-54, May. [Downloadable!] (restricted)
  2. Arrow, Kenneth J, 1969. "Classificatory Notes on the Production and Transmission of Technological Knowledge," American Economic Review, American Economic Association, vol. 59(2), pages 29-35, May. [Downloadable!] (restricted)
  3. Levinthal, Daniel A, 1998. "The Slow Pace of Rapid Technological Change: Gradualism and Punctuation in Technological Change," Industrial and Corporate Change, Oxford University Press, vol. 7(2), pages 217-47, June.
  4. Allen, Robert C., 1983. "Collective invention," Journal of Economic Behavior & Organization, Elsevier, vol. 4(1), pages 1-24, March. [Downloadable!] (restricted)
  5. Pier Paolo Patrucco, 2005. "The emergence of technology systems: knowledge production and distribution in the case of the Emilian plastics district," Cambridge Journal of Economics, Oxford University Press, vol. 29(1), pages 37-56, January. [Downloadable!] (restricted)
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  6. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S71-102, October. [Downloadable!] (restricted)
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  7. Kenneth Arrow, 1962. "Economic Welfare and the Allocation of Resources for Invention," NBER Chapters, in: The Rate and Direction of Inventive Activity: Economic and Social Factors, pages 609-626 National Bureau of Economic Research, Inc. [Downloadable!]
  8. Marchionatti, Roberto, 1999. "On Keynes' Animal Spirits," Kyklos, Blackwell Publishing, vol. 52(3), pages 415-39.
  9. Romer, Paul M, 1994. "The Origins of Endogenous Growth," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 3-22, Winter. [Downloadable!] (restricted)
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