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There are several ways to incorporate evolutionary concepts into economic thinking

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  • Christian Cordes

    (University of Bremen)

Abstract

This article reviews the most important transfers of this kind into evolutionary economics. It broadly differentiates between approaches that draw on an analogy construction to the biological sphere, those that make metaphorical use of Darwinian ideas, and avenues that are based on the fact that other forms of – cultural – evolution rest upon foundations laid before by natural selection. It is shown that an evolutionary approach within economics informed by insights from cognitive science, evolutionary biology, and anthropology contributes to more realistic models of human behavior in economic contexts.

Suggested Citation

  • 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.
    • Handle: RePEc:esi:evopap:2014-02
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    References listed on IDEAS

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    More about this item

    Keywords

    evolutionary economics; human behavior; biological evolution; cultural evolution; generalized Darwinism; continuity hypothesis; Neo-Schumpeterians; American Institutionalism; competition;
    All these keywords.

    JEL classification:

    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • Z1 - Other Special Topics - - Cultural Economics

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