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Competition, Evolution and Optimisation: Comparisons of Models in Economics and Ecology

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  • Tisdell, Clement A.

Abstract

Discusses concepts of competition in economics and ecology and the relevance of evolution to both subjects. It is suggested that although speciation or increasing biodiversity tends to occur in undisturbed ecological systems, the opposite trend may occur in economic systems. Competition based on optimisation plays a significant role in theories of the evolution of species and some theories of the evolution of business or industrial structures. But evolution does not result in optimal selection of species or businesses for the future, and there is scope for doubt about what is being optimised by survivors in the evolutionary process. Ecological or biological theories of intra-specific competition involving scramble and contest competition are outlined and economic analogies are identified. It is argued that heterogeneity or diversity of individuals within a population of competing members has important implications for the sustainability or stability of populations involved in these types of competition. Comparisons are made between the survival of new industries and the probability of survival of populations of species.

Suggested Citation

  • Tisdell, Clement A., 2001. "Competition, Evolution and Optimisation: Comparisons of Models in Economics and Ecology," Economics, Ecology and Environment Working Papers 48384, University of Queensland, School of Economics.
    • Handle: RePEc:ags:uqseee:48384
    DOI: 10.22004/ag.econ.48384
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    References listed on IDEAS

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    1. C. A. Tisdell*, 1985. "Conceptual Issues in the Measurement of Economic and Productive Efficiencies," South African Journal of Economics, Economic Society of South Africa, vol. 53(1), pages 38-45, March.
    2. Svizzero, Serge & Tisdell, Clement A., 2001. "Concepts of Competition in Theory and Practice," Economic Theory, Applications and Issues Working Papers 90469, University of Queensland, School of Economics.
    3. Eldredge, Niles, 1997. "Evolution in the marketplace," Structural Change and Economic Dynamics, Elsevier, vol. 8(4), pages 385-398, October.
    4. Clem Tisdell, 1996. "Bounded Rationality and Economic Evolution," Books, Edward Elgar Publishing, number 960.
    5. Clem Tisdell, 1999. "Diversity And Economic Evolution: Failures Of Competitive Economic Systems," Contemporary Economic Policy, Western Economic Association International, vol. 17(2), pages 156-165, April.
    6. Tisdell, Clem & Seidl, Irmi, 2004. "Niches and economic competition: implications for economic efficiency, growth and diversity," Structural Change and Economic Dynamics, Elsevier, vol. 15(2), pages 119-135, June.
    7. Tisdell, Clement A., 2001. "Externalities, Thresholds and the Marketing of New Aquacultural Products: Theory and Examples," Economic Theory, Applications and Issues Working Papers 90468, University of Queensland, School of Economics.
    8. Jack High (ed.), 2001. "Competition," Books, Edward Elgar Publishing, number 1751.
    9. Ricardo, David, 1821. "On the Principles of Political Economy and Taxation," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, edition 3, number ricardo1821.
    10. Clem Tisdell, 1999. "Biodiversity, Conservation and Sustainable Development," Books, Edward Elgar Publishing, number 1408.
    11. Hirshleifer, Jack, 1977. "Economics from a Biological Viewpoint," Journal of Law and Economics, University of Chicago Press, vol. 20(1), pages 1-52, April.
    12. Hannon, Bruce, 1997. "The use of analogy in biology and economics: From biology to economics, and back," Structural Change and Economic Dynamics, Elsevier, vol. 8(4), pages 471-488, October.
    Full references (including those not matched with items on IDEAS)

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