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There are several ways to incorporate evolutionary concepts into economic thinking

Listed author(s):
  • Christian Cordes

    (University of Bremen)

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.

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File URL: ftp://137.248.191.199/RePEc/esi/discussionpapers/2014-02.pdf
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Paper provided by Philipps University Marburg, Department of Geography in its series Papers on Economics and Evolution with number 2014-02.

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Length: 14 pages
Date of creation: 02 Sep 2014
Handle: RePEc:esi:evopap:2014-02
Contact details of provider: Postal:
Deutschhausstrasse 10, 35032 Marburg

Phone: 064212824257
Fax: 064212828950
Web page: http://www.uni-marburg.de/fb19/
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  1. Christian Cordes & Peter J. Richerson & Richard McElreath & Pontus Strimling, 2006. "A Naturalistic Approach to the Theory of the Firm: The Role of Cooperation and Cultural Evolution," Papers on Economics and Evolution 2006-06, Philipps University Marburg, Department of Geography.
  2. Woersdorfer, Julia Sophie & Kaus, Wolfhard, 2011. "Will nonowners follow pioneer consumers in the adoption of solar thermal systems? Empirical evidence for northwestern Germany," Ecological Economics, Elsevier, vol. 70(12), pages 2282-2291.
  3. Ken Binmore, 2001. "Natural Justice and Political Stability," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 157(1), pages 133-133, March.
  4. Christian Cordes & Peter J. Richerson & Georg Schwesinger, 2009. "How Corporate Cultures Coevolve with the Business Environment: The Case of Firm Growth Crises and Industry Evolution," Papers on Economics and Evolution 2009-21, Philipps University Marburg, Department of Geography.
  5. Rutherford, Malcolm, 1998. "Veblen's Evolutionary Programme: A Promise Unfulfilled," Cambridge Journal of Economics, Oxford University Press, vol. 22(4), pages 463-477, July.
  6. 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.
  7. Asso, Pier Francesco & Fiorito, Luca, 2004. "Human Nature and Economic Institutions: Instinct Psychology, Behaviorism, and the Development of American Institutionalism," Journal of the History of Economic Thought, Cambridge University Press, vol. 26(04), pages 445-477, December.
  8. Ulrich Witt, 2007. "Firms as Realizations of Entrepreneurial Visions," Journal of Management Studies, Wiley Blackwell, vol. 44(7), pages 1125-1140, November.
  9. Christian Cordes, 2004. "Darwinism in Economics: From Analogy to Continuity," Papers on Economics and Evolution 2004-15, Philipps University Marburg, Department of Geography.
  10. Christian Schubert, 2009. "Is Novelty always a good thing? Towards an Evolutionary Welfare Economics," Papers on Economics and Evolution 2009-03, Philipps University Marburg, Department of Geography.
  11. Langlois, Richard N., 2003. "Cognitive comparative advantage and the organization of work: Lessons from Herbert Simon's vision of the future," Journal of Economic Psychology, Elsevier, vol. 24(2), pages 167-187, April.
  12. Wesley C. Mitchell, 1914. "Human Behavior and Economics: A Survey of Recent Literature," The Quarterly Journal of Economics, Oxford University Press, vol. 29(1), pages 1-47.
  13. Christian Schubert, 2012. "Is novelty always a good thing? Towards an evolutionary welfare economics," Journal of Evolutionary Economics, Springer, vol. 22(3), pages 585-619, July.
  14. Geoffrey M. Hodgson, 2002. "Darwinism in economics: from analogy to ontology," Journal of Evolutionary Economics, Springer, vol. 12(3), pages 259-281.
  15. Witt, Ulrich, 1998. "Imagination and leadership - The neglected dimension of an evolutionary theory of the firm," Journal of Economic Behavior & Organization, Elsevier, vol. 35(2), pages 161-177, April.
  16. 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, 08.
  17. 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.
  18. Buenstorf, Guido & Cordes, Christian, 2008. "Can sustainable consumption be learned? A model of cultural evolution," Ecological Economics, Elsevier, vol. 67(4), pages 646-657, November.
  19. 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.
  20. Veblen, Thorstein, 1898. "Why Economics is not an Evolutionary Science," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 12.
  21. Geoffrey Hodgson & Thorbjørn Knudsen, 2004. "The firm as an interactor: firms as vehicles for habits and routines," Journal of Evolutionary Economics, Springer, vol. 14(3), pages 281-307, 07.
  22. Herbert A. Simon, 1955. "A Behavioral Model of Rational Choice," The Quarterly Journal of Economics, Oxford University Press, vol. 69(1), pages 99-118.
  23. Rutherford, Malcolm, 2000. "Understanding Institutional Economics: 1918–1929," Journal of the History of Economic Thought, Cambridge University Press, vol. 22(03), pages 277-308, September.
  24. Henrich, Joseph, 2004. "Cultural group selection, coevolutionary processes and large-scale cooperation," Journal of Economic Behavior & Organization, Elsevier, vol. 53(1), pages 3-35, January.
  25. 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.
  26. Boyd, Robert & Richerson, Peter J., 1980. "Sociobiology, culture and economic theory," Journal of Economic Behavior & Organization, Elsevier, vol. 1(2), pages 97-121, June.
  27. Wesley C. Mitchell, 1910. "The Rationality of Economic Activity," Journal of Political Economy, University of Chicago Press, vol. 18, pages 197-197.
  28. Arthur T. Denzau & Douglass C. North, 1993. "Shared Mental Models: Ideologies and Institutions," Economic History 9309003, EconWPA.
  29. Thorbj, rn Knudsen, 2002. "Economic selection theory," Journal of Evolutionary Economics, Springer, vol. 12(4), pages 443-470.
  30. John Gowdy & Susan Mesner, 1998. "The Evolution of Georgescu-Roegen's Bioeconomics," Review of Social Economy, Taylor & Francis Journals, vol. 56(2), pages 136-156.
  31. Douglass C. North, 2005. "Introduction to Understanding the Process of Economic Change," Introductory Chapters, in: Understanding the Process of Economic Change Princeton University Press.
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