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Evolutionary game theory and evolutionary economics: are they different species?

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  • Geoffrey Hodgson

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  • Kainan Huang

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  • Geoffrey Hodgson & Kainan Huang, 2012. "Evolutionary game theory and evolutionary economics: are they different species?," Journal of Evolutionary Economics, Springer, vol. 22(2), pages 345-366, April.
  • Handle: RePEc:spr:joevec:v:22:y:2012:i:2:p:345-366
    DOI: 10.1007/s00191-010-0203-3
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    References listed on IDEAS

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    1. Thorstein Veblen, 1909. "The Limitations of Marginal Utility," Journal of Political Economy, University of Chicago Press, vol. 17, pages 620-620.
    2. Maureen McKelvey, 1998. "Evolutionary innovations: learning, entrepreneurship and the dynamics of the firm," Journal of Evolutionary Economics, Springer, vol. 8(2), pages 157-175.
    3. Don Ross, 2006. "Evolutionary game theory and the normative theory of institutional design: Binmore and behavioral economics," Politics, Philosophy & Economics, , vol. 5(1), pages 51-79, February.
    4. Giovanni Dosi & Daniel A. Levinthal & Luigi Marengo, 2003. "Bridging contested terrain: linking incentive-based and learning perspectives on organizational evolution," Industrial and Corporate Change, Oxford University Press, vol. 12(2), pages 413-436, April.
    5. Metcalfe, J S, 1994. "Competition, Fisher's Principle and Increasing Returns in the Selection Process," Journal of Evolutionary Economics, Springer, vol. 4(4), pages 327-346, November.
    6. Larry Samuelson, 2002. "Evolution and Game Theory," Journal of Economic Perspectives, American Economic Association, vol. 16(2), pages 47-66, Spring.
    7. David Colander, 2005. "The Making of an Economist Redux," Journal of Economic Perspectives, American Economic Association, vol. 19(1), pages 175-198, Winter.
    8. Krueger, Anne O, et al, 1991. "Report of the Commission on Graduate Education in Economics," Journal of Economic Literature, American Economic Association, vol. 29(3), pages 1035-1053, September.
    9. repec:cup:apsrev:v:80:y:1986:i:04:p:1095-1111_18 is not listed on IDEAS
    10. Matthias Klaes, 2004. "Evolutionary economics: In defence of 'vagueness'," Journal of Economic Methodology, Taylor & Francis Journals, vol. 11(3), pages 359-376.
    11. John Nightingale, 1997. "Anticipating Nelson and Winter: Jack Downie's theory of evolutionary economic change," Journal of Evolutionary Economics, Springer, vol. 7(2), pages 147-167.
    12. Verspagen, Bart & Werker, Claudia, 2003. "The Invisible College of The Economics of Innovation and Technological Change," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 21, pages 393-419, December.
    13. P. Allen & M. Strathern & J. Baldwin, 2007. "Complexity and the limits to learning," Journal of Evolutionary Economics, Springer, vol. 17(4), pages 401-431, August.
    14. J. W. Stoelhorst, 2008. "The explanatory logic and ontological commitments of generalized Darwinism," Journal of Economic Methodology, Taylor & Francis Journals, vol. 15(4), pages 343-363.
    15. Elinor Ostrom, 2000. "Collective Action and the Evolution of Social Norms," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 137-158, Summer.
    16. Sandra Silva & Aurora Teixeira, 2009. "On the divergence of evolutionary research paths in the past 50 years: a comprehensive bibliometric account," Journal of Evolutionary Economics, Springer, vol. 19(5), pages 605-642, October.
    17. Villena, Mauricio G. & Villena, Marcelo J., 2004. "Evolutionary Game Theory and Thorstein Veblen’s Evolutionary Economics: Is EGT Veblenian?," MPRA Paper 28889, University Library of Munich, Germany.
    18. Kaniovski Yuri M. & Young H. Peyton, 1995. "Learning Dynamics in Games with Stochastic Perturbations," Games and Economic Behavior, Elsevier, vol. 11(2), pages 330-363, November.
    19. Saviotti, P P & Mani, G S, 1995. "Competition, Variety and Technological Evolution: A Replicator Dynamics Model," Journal of Evolutionary Economics, Springer, vol. 5(4), pages 369-392, December.
    20. Pawlowitsch, Christina, 2008. "Why evolution does not always lead to an optimal signaling system," Games and Economic Behavior, Elsevier, vol. 63(1), pages 203-226, May.
    21. Drew Fudenberg & David K. Levine, 1998. "The Theory of Learning in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061945, January.
    22. Runde, Jochen, 2009. "Ontology and the foundations of evolutionary economic theory: on Dopfer and Potts' General Theory of Economic Evolution," Journal of Institutional Economics, Cambridge University Press, vol. 5(03), pages 361-378, December.
    23. Thomas Brenner, 1998. "Can evolutionary algorithms describe learning processes?," Journal of Evolutionary Economics, Springer, vol. 8(3), pages 271-283.
    24. Veblen, Thorstein, 1909. "The Limitations of Marginal Utility," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 17.
    25. Franco Malerba & Luigi Orsenigo, 2002. "Innovation and market structure in the dynamics of the pharmaceutical industry and biotechnology: towards a history-friendly model," Industrial and Corporate Change, Oxford University Press, vol. 11(4), pages 667-703, August.
    26. Richard R. Nelson & Sidney G. Winter, 2002. "Evolutionary Theorizing in Economics," Journal of Economic Perspectives, American Economic Association, vol. 16(2), pages 23-46, Spring.
    27. Silverberg, Gerald & Dosi, Giovanni & Orsenigo, Luigi, 1988. "Innovation, Diversity and Diffusion: A Self-organisation Model," Economic Journal, Royal Economic Society, vol. 98(393), pages 1032-1054, December.
    28. Chick, Victoria, 1998. "On Knowing One's Place: The Role of Formalism in Economics," Economic Journal, Royal Economic Society, vol. 108(451), pages 1859-1869, November.
    29. Dosi, Giovanni & Nelson, Richard R, 1994. "An Introduction to Evolutionary Theories in Economics," Journal of Evolutionary Economics, Springer, vol. 4(3), pages 153-172, September.
    30. Schelling, Thomas C, 1969. "Models of Segregation," American Economic Review, American Economic Association, vol. 59(2), pages 488-493, May.
    31. Foster, John, 1993. "Economics and the Self-Organisation Approach: Alfred Marshall Revisited," Economic Journal, Royal Economic Society, vol. 103(419), pages 975-991, July.
    32. Krugman, Paul, 1998. "Two Cheers for Formalism," Economic Journal, Royal Economic Society, vol. 108(451), pages 1829-1836, November.
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    34. Emilio Barucci, 1999. "Heterogeneous beliefs and learning in forward looking economic models," Journal of Evolutionary Economics, Springer, vol. 9(4), pages 453-464.
    35. Ulrich Witt, 2008. "What is specific about evolutionary economics?," Journal of Evolutionary Economics, Springer, vol. 18(5), pages 547-575, October.
    36. Foster, John, 1997. "The analytical foundations of evolutionary economics: From biological analogy to economic self-organization," Structural Change and Economic Dynamics, Elsevier, vol. 8(4), pages 427-451, October.
    37. Sylvie Geisendorf, 2009. "The economic concept of evolution: self-organization or Universal Darwinism?," Journal of Economic Methodology, Taylor & Francis Journals, vol. 16(4), pages 377-391.
    38. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, Oxford University Press, vol. 84(3), pages 488-500.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Elsner, Wolfram & Schwardt, Henning, 2012. "Trust and Arena Size. Expectations, Trust, and Institutions Co-Evolving, and Their Critical Population and Group Sizes," MPRA Paper 40393, University Library of Munich, Germany.
    2. Safarzyńska, Karolina & Brouwer, Roy & Hofkes, Marjan, 2013. "Evolutionary modelling of the macro-economic impacts of catastrophic flood events," Ecological Economics, Elsevier, vol. 88(C), pages 108-118.
    3. Bukin, Kirill, 2015. "Diffusion of innovation: a model of evolutionary processes," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 6, pages 133-143.
    4. Duarte N. Leite & Sandra T. Silva & Oscar Afonso, 2014. "Institutions, Economics And The Development Quest," Journal of Economic Surveys, Wiley Blackwell, vol. 28(3), pages 491-515, July.
    5. Jean-François Mercure, 2015. "An age structured demographic theory of technological change," Journal of Evolutionary Economics, Springer, vol. 25(4), pages 787-820, September.
    6. Mercure, J.-F. & Pollitt, H. & Chewpreecha, U. & Salas, P. & Foley, A.M. & Holden, P.B. & Edwards, N.R., 2014. "The dynamics of technology diffusion and the impacts of climate policy instruments in the decarbonisation of the global electricity sector," Energy Policy, Elsevier, vol. 73(C), pages 686-700.
    7. Ulrich Witt, 2013. "The Future of Evolutionary Economics: Why Modalities Matter," Papers on Economics and Evolution 2013-09, Philipps University Marburg, Department of Geography.
    8. Daniel Wood, 2015. "Informal property rights as stable conventions in hawk-dove games with many players," Journal of Evolutionary Economics, Springer, vol. 25(4), pages 849-873, September.
    9. Torsten Heinrich & Henning Schwardt, 2013. "Institutional Inertia and Institutional Change in an Expanding Normal-Form Game," Games, MDPI, Open Access Journal, vol. 4(3), pages 1-28, August.
    10. Denise Dollimore & Geoffrey Hodgson, 2014. "Four essays on economic evolution: an introduction," Journal of Evolutionary Economics, Springer, vol. 24(1), pages 1-10, January.
    11. repec:spr:joevec:v:27:y:2017:i:3:d:10.1007_s00191-016-0489-x is not listed on IDEAS

    More about this item

    Keywords

    Evolutionary economics; Evolutionary game theory; Technique versus substance; Causal explanation; B41; B52; C73;

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games

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