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General selection theory and economic evolution: The Price equation and the replicator/interactor distinction

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  • Thorbjørn Knudsen

Abstract

The purpose of the present article is to strengthen the conceptualisation of the principle of selection in theories of economic evolution and to help clarify a number of unsettled issues regarding the meaning of variety and continuity. In order to achieve this, the emerging general mathematical selection theory is introduced to identify the requirements of a general principle of selection and the specification of variety and continuity that follows from it. It is indicated how general selection theory can help advance evolutionary theories of economic change by clarifying the meaning of selection, and the possible role of habits and routines in economic selection.

Suggested Citation

  • Thorbjørn Knudsen, 2004. "General selection theory and economic evolution: The Price equation and the replicator/interactor distinction," Journal of Economic Methodology, Taylor & Francis Journals, vol. 11(2), pages 147-173.
    • Handle: RePEc:taf:jecmet:v:11:y:2004:i:2:p:147-173
    DOI: 10.1080/13501780410001694109
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    Cited by:

    1. Hodgson, Geoffrey M. & Knudsen, Thorbjorn, 2006. "Why we need a generalized Darwinism, and why generalized Darwinism is not enough," Journal of Economic Behavior & Organization, Elsevier, vol. 61(1), pages 1-19, September.
    2. Christian Cordes, 2006. "Darwinism in economics: from analogy to continuity," Journal of Evolutionary Economics, Springer, vol. 16(5), pages 529-541, December.
    3. J. Stan Metcalfe & John Foster, 2010. "Evolutionary Growth Theory," Chapters, in: Mark Setterfield (ed.), Handbook of Alternative Theories of Economic Growth, chapter 3, Edward Elgar Publishing.
    4. Geoffrey Hodgson & Thorbjørn Knudsen, 2008. "In search of general evolutionary principles: Why Darwinism is too important to be left to the biologists," Journal of Bioeconomics, Springer, vol. 10(1), pages 51-69, April.
    5. Khan, Haider, 2024. "Deep Causality and Counterfactuals for Scientific Explanation and Ethically Efficacious Economics and Social Sciences: How can the social sciences help make policies for advancing the common good?," MPRA Paper 119641, University Library of Munich, Germany.
    6. Jürgen Essletzbichler & David L. Rigby, 2010. "Generalized Darwinism and Evolutionary Economic Geography," Chapters, in: Ron Boschma & Ron Martin (ed.), The Handbook of Evolutionary Economic Geography, chapter 2, Edward Elgar Publishing.
    7. Richard Arena, 2017. "Schumpeter and Schumpeterians on competition: some policy implications," Journal of Evolutionary Economics, Springer, vol. 27(1), pages 161-186, January.
    8. Brendan Markey-Towler, 2016. "Law of the jungle: firm survival and price dynamics in evolutionary markets," Journal of Evolutionary Economics, Springer, vol. 26(3), pages 655-696, July.
    9. A. Madureira & F. Hartog & N. Baken, 2016. "A holonic framework to understand and apply information processes in evolutionary economics: survey and proposal," Netnomics, Springer, vol. 17(2), pages 157-190, September.
    10. Markus Grillitsch & Magnus Nilsson, 2019. "Knowledge externalities and firm heterogeneity: Effects on high and low growth firms," Papers in Regional Science, Wiley Blackwell, vol. 98(1), pages 93-114, February.
    11. Christian Cordes, 2014. "There are several ways to incorporate evolutionary concepts into economic thinking," Papers on Economics and Evolution 2014-02, Philipps University Marburg, Department of Geography.
    12. Esben Andersen & Jacob Holm, 2014. "The signs of change in economic evolution," Journal of Evolutionary Economics, Springer, vol. 24(2), pages 291-316, April.
    13. Foster, John, 2021. "In search of a suitable heuristic for evolutionary economics: from generalized Darwinism to economic self-organisation," MPRA Paper 106146, University Library of Munich, Germany.
    14. Thorbjørn Knudsen, 2022. "A new perspective on: evolutionary processes and organizational adaptation," Journal of Organization Design, Springer;Organizational Design Community, vol. 11(3), pages 111-114, September.
    15. Geoffrey Hodgson & Thorbjørn Knudsen, 2006. "The nature and units of social selection," Journal of Evolutionary Economics, Springer, vol. 16(5), pages 477-489, December.
    16. Luna, Ivette & de Souza Luz, Manuel Ramón & Hiratuka, Celio & Fracalanza, Paulo Sérgio, 2015. "Variação da produtividade do trabalho numa perspectiva evolucionária: aplicação da equação de Price para análise da indústria de transformação no Brasil entre 2007 e 2011 [Changes in labour product," MPRA Paper 78198, University Library of Munich, Germany.
    17. Luna, Ivette & Hiratuka, Celio & Haddad Netto, Elias Youssef, 2016. "Survival of the fittest or does size matter: What are the main drivers of Productivity in Brazil?," MPRA Paper 78208, University Library of Munich, Germany, revised 2016.
    18. Yoguel, Gabriel & Pereira, Mariano, 2014. "Industrial and technological policy: Contributions from evolutionary perspectives to policy design in developing countries," MPRA Paper 56290, University Library of Munich, Germany.
    19. Esben Sloth Andersen & Jacob Rubæk Holm, 2013. "Directional, stabilizing and disruptive selection: An analysis of aspects of economic evolution based on Price’s equation," DRUID Working Papers 13-10, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
    20. Pavel Pelikan, 2011. "Evolutionary developmental economics: how to generalize Darwinism fruitfully to help comprehend economic change," Journal of Evolutionary Economics, Springer, vol. 21(2), pages 341-366, May.
    21. John Stanley Metcalfe & Ronnie Ramlogan, 2006. "Creative Destruction and the Measurement of Productivity Change," Revue de l'OFCE, Presses de Sciences-Po, vol. 97(5), pages 373-397.
    22. John Metcalfe, 2008. "Accounting for economic evolution: Fitness and the population method," Journal of Bioeconomics, Springer, vol. 10(1), pages 23-49, April.
    23. J.S Metcalfe, 2004. "Accounting for Evolution: An Assessment of the Population Method," Papers on Economics and Evolution 2004-21, Philipps University Marburg, Department of Geography.

    More about this item

    Keywords

    economic evolution; general selection theory; replicator/interactor; routine/social role;
    All these keywords.

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