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The evolutionary theory of the firm: Routines, complexity and change

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  • Werner Hölzl

    ()
    (Vienna University of Economics & B.A.)

Abstract

This paper provides an overview on the evolutionary theory of the firm. The specific feature of the evolutionary approach is that it explains the adaptive behaviors of firms through the tension between innovation and selection. It is suggested that the evolutionary theory can provide a useful basis for a theory of the firm which is concerned with change over time and development.

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Bibliographic Info

Paper provided by Vienna University of Economics Research Group: Growth and Employment in Europe: Sustainability and Competitiveness in its series Working Papers with number geewp46.

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Date of creation: Feb 2005
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Handle: RePEc:wiw:wiwgee:geewp46

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Web page: http://www.wu-wien.ac.at/inst/vw1/gee/

Related research

Keywords: theory of the firm; complexity; routines; change of routines;

This paper has been announced in the following NEP Reports:

References

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  1. Reinstaller,Andreas & Hölzl,Werner, 2003. "Complementarity constraints and induced innovation: some evidence from the First IT Regime," Research Memorandum 030, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
  2. Klein, Benjamin & Crawford, Robert G & Alchian, Armen A, 1978. "Vertical Integration, Appropriable Rents, and the Competitive Contracting Process," Journal of Law and Economics, University of Chicago Press, vol. 21(2), pages 297-326, October.
  3. Assar Lindbeck & Dennis Snower, 2003. "The Firm as a Pool of Factor Complementarities," CESifo Working Paper Series 1046, CESifo Group Munich.
  4. Hölzl,Werner & Reinstaller,Andreas, 2003. "The Babbage principle after evolutionary economics," Research Memorandum 016, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
  5. Richard R. Nelson, 1995. "Recent Evolutionary Theorizing about Economic Change," Journal of Economic Literature, American Economic Association, vol. 33(1), pages 48-90, March.
  6. Dosi, Giovanni, 1997. "Opportunities, Incentives and the Collective Patterns of Technological Change," Economic Journal, Royal Economic Society, vol. 107(444), pages 1530-47, September.
  7. Teece, David J. & Rumelt, Richard & Dosi, Giovanni & Winter, Sidney, 1994. "Understanding corporate coherence : Theory and evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 23(1), pages 1-30, January.
  8. Jan Fagerberg, 2003. "Schumpeter and the revival of evolutionary economics: an appraisal of the literature," Journal of Evolutionary Economics, Springer, vol. 13(2), pages 125-159, 04.
  9. Armen A. Alchian & Harold Demsetz, 1971. "Production, Information Costs and Economic Organizations," UCLA Economics Working Papers 10A, UCLA Department of Economics.
  10. Radner, Roy, 2000. "Costly and Bounded Rationality in Individual and Team Decision-Making," Industrial and Corporate Change, Oxford University Press, vol. 9(4), pages 623-58, December.
  11. Ulrich Witt, 2006. "Evolutionary Economics," Papers on Economics and Evolution 2006-05, Philipps University Marburg, Department of Geography.
  12. Aoki, Masahiko, 1990. "Toward an Economic Model of the Japanese Firm," Journal of Economic Literature, American Economic Association, vol. 28(1), pages 1-27, March.
  13. Cohen, Michael D, et al, 1996. "Routines and Other Recurring Action Patterns of Organizations: Contemporary Research Issues," Industrial and Corporate Change, Oxford University Press, vol. 5(3), pages 653-98.
  14. Geoffrey Hodgson & Thorbjørn Knudsen, 2004. "The firm as an interactor: firms as vehicles for habits and routines," Journal of Evolutionary Economics, Springer, vol. 14(3), pages 281-307, 07.
  15. Winter, Sidney G, 1988. "On Coase, Competence, and the Corporation," Journal of Law, Economics and Organization, Oxford University Press, vol. 4(1), pages 163-80, Spring.
  16. Massini, Silvia & Lewin, Arie Y. & Numagami, Tsuyoshi & Pettigrew, Andrew M., 2002. "The evolution of organizational routines among large Western and Japanese firms," Research Policy, Elsevier, vol. 31(8-9), pages 1333-1348, December.
  17. Witt, Ulrich, 1997. "Self-organization and economics--what is new?," Structural Change and Economic Dynamics, Elsevier, vol. 8(4), pages 489-507, October.
  18. Witt, Ulrich, 1998. "Imagination and leadership - The neglected dimension of an evolutionary theory of the firm," Journal of Economic Behavior & Organization, Elsevier, vol. 35(2), pages 161-177, April.
  19. Radner, Roy, 1996. "Bounded Rationality, Indeterminacy, and the Theory of the Firm," Economic Journal, Royal Economic Society, vol. 106(438), pages 1360-73, September.
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