Technological change: A microeconomic approach to the creation of knowledge
Technological change does not evolve in a purely normative economic way. Economic selection has a guiding impact on technology evolution, but the generic element of novelty does not necessarily follow economic utility. In general, market selection is predominant in economic thinking and it is also implicit in the literature on technological change. Using a microeconomic approach to the creation of knowledge, this paper shows that the generic (Schumpeterian) element of the emergence of novelty - economic selection being absent - may create structures, paradigms and trajectories, which we usually look at from a market selection perspective. This paper does not try to make predictions on trajectories, but it qualifies a standard evolutionary perspective.
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.:
- Nelson, Richard R & Winter, Sidney G, 1974. "Neoclassical vs. Evolutionary Theories of Economic Growth: Critique and Prospectus," Economic Journal, Royal Economic Society, vol. 84(336), pages 886-905, December.
- Klepper, Steven, 1997. "Industry Life Cycles," Industrial and Corporate Change, Oxford University Press, vol. 6(1), pages 145-81.
- Nelson, Richard R. & Winter, Sidney G., 1993.
"In search of useful theory of innovation,"
Elsevier, vol. 22(2), pages 108-108, April.
- J. Stan Metcalfe & John Foster & Ronnie Ramlogan, 2006.
"Adaptive economic growth,"
Cambridge Journal of Economics,
Oxford University Press, vol. 30(1), pages 7-32, January.
- Metcalfe, John S. & Foster, John & Ramlogan, Ronnie, 2003. "Adaptive Economic Growth," Centre on Regulation and Competition (CRC) Working papers 30637, University of Manchester, Institute for Development Policy and Management (IDPM).
- Mowery, David & Rosenberg, Nathan, 1993.
"The influence of market demand upon innovation: A critical review of some recent empirical studies,"
Elsevier, vol. 22(2), pages 107-108, April.
- Mowery, David & Rosenberg, Nathan, 1979. "The influence of market demand upon innovation: a critical review of some recent empirical studies," Research Policy, Elsevier, vol. 8(2), pages 102-153, April.
- William D. Nordhaus & James Tobin, 1972.
"Is Growth Obsolete?,"
in: Economic Research: Retrospect and Prospect, Volume 5, Economic Growth, pages 1-80
National Bureau of Economic Research, Inc.
- Dosi, Giovanni, 1982.
"Technological paradigms and technological trajectories : A suggested interpretation of the determinants and directions of technical change,"
Elsevier, vol. 11(3), pages 147-162, June.
- Dosi, Giovanni, 1993. "Technological paradigms and technological trajectories : A suggested interpretation of the determinants and directions of technical change," Research Policy, Elsevier, vol. 22(2), pages 102-103, April.
- Breschi, Stefano & Lissoni, Francesco & Malerba, Franco, 2003. "Knowledge-relatedness in firm technological diversification," Research Policy, Elsevier, vol. 32(1), pages 69-87, January.
- Ulrich Witt, 2008. "What is specific about evolutionary economics?," Journal of Evolutionary Economics, Springer, vol. 18(5), pages 547-575, October.
- Richard R. Nelson, 2008. "Factors affecting the power of technological paradigms," Industrial and Corporate Change, Oxford University Press, vol. 17(3), pages 485-497, June.
- Thomas Grebel & Andreas Pyka & Horst Hanusch, 2003.
"An Evolutionary Approach to the Theory of Entrepreneurship,"
Industry and Innovation,
Taylor & Francis Journals, vol. 10(4), pages 493-514.
- Thomas Grebel & Andreas Pyka & Horst Hanusch, 2004. "An evolutionary approach to the theory of entrepreneurship," Chapters, in: Applied Evolutionary Economics and Complex Systems, chapter 7 Edward Elgar Publishing.
- Thomas Grebel & Andreas Pyka & Horst Hanusch, 2001. "An Evolutionary Approach to the Theory of Entrepreneurship," Discussion Paper Series 206, Universitaet Augsburg, Institute for Economics.
- Kurt Dopfer, 2004. "The economic agent as rule maker and rule user: Homo Sapiens Oeconomicus," Journal of Evolutionary Economics, Springer, vol. 14(2), pages 177-195, 06.
- Steven Klepper, 2002. "Firm Survival and the Evolution of Oligopoly," RAND Journal of Economics, The RAND Corporation, vol. 33(1), pages 37-61, Spring.
- 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.
When requesting a correction, please mention this item's handle: RePEc:eee:streco:v:20:y:2009:i:4:p:301-312. 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: (Shamier, Wendy)
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.