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Evolutionary Economics and Psychology

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  • Ulrich Witt

Abstract

Evolutionary economics is a paradigm for explaining the transformation of the economy. To achieve its goal, it needs being founded on a proper theory of economic behavior. The paper discusses these foundations. It is argued that the historical malleability of economic behavior is based on the interactions between innate behavior dispositions and adaptation mechanisms on the one hand and the limited, and always selective, cognitive and observational learning that contributes to an ever more extended and differentiated action knowledge. The implications of this interpretation are outlined in an exemplary fashion for the case of the evolution and growth of consumption. Length 29 pages

Suggested Citation

  • Ulrich Witt, 2006. "Evolutionary Economics and Psychology," Papers on Economics and Evolution 2006-13, Philipps University Marburg, Department of Geography.
    • Handle: RePEc:esi:evopap:2006-13
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    References listed on IDEAS

    as
    1. Daniel Kahneman & Peter P. Wakker & Rakesh Sarin, 1997. "Back to Bentham? Explorations of Experienced Utility," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(2), pages 375-406.
    2. Wilhelm Ruprecht, 2005. "The historical development of the consumption of sweeteners - a learning approach," Journal of Evolutionary Economics, Springer, vol. 15(3), pages 247-272, August.
    3. Jan Fagerberg, 2003. "Schumpeter and the revival of evolutionary economics: an appraisal of the literature," Journal of Evolutionary Economics, Springer, vol. 13(2), pages 125-159, April.
    4. Deaton,Angus & Muellbauer,John, 1980. "Economics and Consumer Behavior," Cambridge Books, Cambridge University Press, number 9780521296762.
    5. Ulrich Witt, 2003. "The Evolving Economy," Books, Edward Elgar Publishing, number 2477.
    6. 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.
    7. Ulrich Witt, 1994. "Evolutionary economics," Chapters, in: Peter J. Boettke (ed.), The Elgar Companion to Austrian Economics, chapter 78, Edward Elgar Publishing.
    8. Geoffrey M. Hodgson, 2002. "Darwinism in economics: from analogy to ontology," Journal of Evolutionary Economics, Springer, vol. 12(3), pages 259-281.
    9. Richard R. Nelson, 1995. "Recent Evolutionary Theorizing about Economic Change," Journal of Economic Literature, American Economic Association, vol. 33(1), pages 48-90, March.
    10. Warke, Tom, 2000. "Mathematical Fitness in the Evolution of the Utility Concept from Bentham to Jevons to Marshall," Journal of the History of Economic Thought, Cambridge University Press, vol. 22(1), pages 5-27, March.
    11. W. Fred Van Raaij, 1985. "Attribution of Causality to Economic Actions and Events," Kyklos, Wiley Blackwell, vol. 38(1), pages 3-19, February.
    12. Ulrich Witt, 2001. "special issue: Learning to consume - A theory of wants and the growth of demand," Journal of Evolutionary Economics, Springer, vol. 11(1), pages 23-36.
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    Cited by:

    1. Peter Earl & Tim Wakeley, 2010. "Alternative perspectives on connections in economic systems," Journal of Evolutionary Economics, Springer, vol. 20(2), pages 163-183, April.

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