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Competition, Fisher's Principle and Increasing Returns in the Selection Process

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  • Metcalfe, J S

Abstract

This paper explores the relationship between increasing returns and structural change in the context of an explicitly evolutionary model. The central theme concerns the behaviour of a population of competing firms which is elaborated in terms of Fisher's Principle, the rate of change of the moments of this population distribution are functionally related to higher order moments of the distribution. Different kinds of increasing returns are distinguished and it is shown how they influence the dynamics of selection. The basic principles here are those of replicator dynamic systems and it is shown how the Fisher Principle interacts with the more familiar Kaldor/Verdoorn principles of endogenous growth.

Suggested Citation

  • 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.
    • Handle: RePEc:spr:joevec:v:4:y:1994:i:4:p:327-46
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