The system dynamics of collective knowledge: From gradualism and saltationism to punctuated change
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, and the characteristics of the system. Collective knowledge emerges when knowledge widening leads to knowledge deepening. The interplay between networking costs and knowledge supermodularity can explain both punctuated and gradual change. Smooth, Marshallian dynamics can easily generate major Schumpeterian discontinuities. The divide between the theories of discontinuous 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 externalities 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 environment makes room for a system dynamics framework able to explain in a single context both Marshallian gradualism and Schumpeterian saltationism.
(This abstract was borrowed from another version of this item.)
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.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
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.:
- 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.
- Marchionatti, Roberto, 1999. "On Keynes' Animal Spirits," Kyklos, Wiley Blackwell, vol. 52(3), pages 415-39.
- 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.
- Patrucco, Pier Paolo, 2002. "The Emergence of Technology Systems: Knowledge Production and Distribution in the Case of the Emilian Plastics District," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200206, University of Turin.
- Milgrom, Paul & Roberts, John, 1995. "Complementarities and fit strategy, structure, and organizational change in manufacturing," Journal of Accounting and Economics, Elsevier, vol. 19(2-3), pages 179-208, April.
- Paul Romer, 1989.
"Endogenous Technological Change,"
NBER Working Papers
3210, National Bureau of Economic Research, Inc.
- Mokyr, Joel, 1990. "Punctuated Equilibria and Technological Progress," American Economic Review, American Economic Association, vol. 80(2), pages 350-54, May.
- Antonelli, Cristiano, 2001. "The Microeconomics of Technological Systems," OUP Catalogue, Oxford University Press, number 9780199245536.
- 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.
- Christoph H. Loch & Bernardo A. Huberman, 1999. "A Punctuated-Equilibrium Model of Technology Diffusion," Management Science, INFORMS, vol. 45(2), pages 160-177, February.
- 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.
- Allen, Robert C., 1983. "Collective invention," Journal of Economic Behavior & Organization, Elsevier, vol. 4(1), pages 1-24, March.
- Paul M. Romer, 1994. "The Origins of Endogenous Growth," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 3-22, Winter.
- Atkinson, Anthony B & Stiglitz, Joseph E, 1969. "A New View of Technological Change," Economic Journal, Royal Economic Society, vol. 79(315), pages 573-78, September.
When requesting a correction, please mention this item's handle: RePEc:eee:jeborg:v:62:y:2007:i:2:p:215-236. 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: (Zhang, Lei)
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.