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Bringing Institutions Into Evolutionary Economics: Another View with Links to Changes in Physical and Social Technologies

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Abstract

Like Nelson (2002), I make a case for bringing institutions into evolutionary economics. But unlike Nelson, who defines institutions as social technologies consisting of rules-routines, I define them in agreement with North (1990) as humanly devised rules-constraints — such as formal law and informal social norms — but also view them, to accommodate most of Nelson's approach, as constraining the variety of rules-routines employable by agents. I show that this definition has advantages for communicating with modern institutional analysis, for clarifying how institutions can influence, and be influenced by, changes in physical and social technologies, and for producing policy implications.

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  • Pelikan, Pavel, 2003. "Bringing Institutions Into Evolutionary Economics: Another View with Links to Changes in Physical and Social Technologies," Ratio Working Papers 24, The Ratio Institute.
  • Handle: RePEc:hhs:ratioi:0024
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    References listed on IDEAS

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    1. Sugden, Robert, 1989. "Spontaneous Order," Journal of Economic Perspectives, American Economic Association, vol. 3(4), pages 85-97, Fall.
    2. Heiner, Ronald A, 1983. "The Origin of Predictable Behavior," American Economic Review, American Economic Association, vol. 73(4), pages 560-595, September.
    3. Pelikan, P, 1992. "The Dynamics of Economic Systems, or How to Transform a Failed Socialist Economy," Journal of Evolutionary Economics, Springer, vol. 2(1), pages 39-63, March.
    4. Nelson, Richard R. & Sampat, Bhaven N., 2001. "Making sense of institutions as a factor shaping economic performance," Journal of Economic Behavior & Organization, Elsevier, vol. 44(1), pages 31-54, January.
    5. Eggertsson,Thrainn, 1990. "Economic Behavior and Institutions," Cambridge Books, Cambridge University Press, number 9780521348911, May.
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    Cited by:

    1. Simone Strambach, 2010. "Path Dependence and Path Plasticity: The Co-evolution of Institutions and Innovation – the German Customized Business Software Industry," Chapters,in: The Handbook of Evolutionary Economic Geography, chapter 19 Edward Elgar Publishing.
    2. Pelikan, Pavel, 2006. "Markets vs. Government when Rationality Is Unequally Bounded: Some Consequences of Cognitive Inequalities for Theory and Policy," Ratio Working Papers 85, The Ratio Institute, revised 03 Sep 2006.
    3. Geels, Frank W., 2014. "Reconceptualising the co-evolution of firms-in-industries and their environments: Developing an inter-disciplinary Triple Embeddedness Framework," Research Policy, Elsevier, vol. 43(2), pages 261-277.
    4. Pelikan, Pavel, 2004. "Interconnecting Ecolutionary, Institutional and Cognitive Economics: Six Steps towards Understanding the Six Links," Ratio Working Papers 48, The Ratio Institute.
    5. Gerardo Marletto, 2009. "Heterodox Environmental Economix: Theoretical Strands in Search of a Paradigm," ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT, FrancoAngeli Editore, vol. 0(1), pages 25-33.
    6. Kapás, Judit & Czeglédi, Pál, 2008. "Technológiai és intézményi változások a munkapiacon és a vállalati szervezetben. Nyugat- és kelet-közép-európai összehasonlítás
      [Technological and institutional changes on the labour market and in
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(4), pages 308-332.
    7. Eike W. Schamp, 2010. "On the Notion of Co-evolution in Economic Geography," Chapters,in: The Handbook of Evolutionary Economic Geography, chapter 20 Edward Elgar Publishing.
    8. Julie Bertz & Martin Quinn, 2014. "Interpreting management accounting rules: an initial study of public bodies," Metrika: International Journal for Theoretical and Applied Statistics, Springer, vol. 24(4), pages 319-342, February.
    9. Judit KAPà S & Pál CZEGLÉDI, 2007. "What Does Transition Mean?: Post-socialist and Western European Countries Paralleled," The Journal of Comparative Economic Studies (JCES), The Japanese Society for Comparative Economic Studies (JSCES), vol. 3, pages 3-28, December.
    10. Stefanović Zoran, 2014. "Evolution Of “Rules Of The Game”, Macroeconomic Dynamics And Reform Policy," Economic Themes, De Gruyter Open, vol. 52(4), pages 480-497, December.
    11. Kapás, Judit, 2007. "Hogyan fejlődik a vállalat?. A fizikai és a társadalmi technológia kölcsönhatásos evolúciós folyamata
      [How do firms develop?. The mutual evolutionary process of physical and social technology]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(1), pages 49-66.
    12. Dermot Breslin, 2016. "What evolves in organizational co-evolution?," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 20(1), pages 45-67, March.
    13. H Lzl, Werner, 2006. "Convergence of financial systems: towards an evolutionary perspective," Journal of Institutional Economics, Cambridge University Press, vol. 2(01), pages 67-90, April.
    14. Heike Schroeder, 2011. "Application possibilities of the micro-meso-macro framework in economic geography," Papers in Evolutionary Economic Geography (PEEG) 1115, Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography, revised Aug 2011.

    More about this item

    Keywords

    institutions; rules-constraints; rules-routines; social technologies; economic evolutions;

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary
    • N01 - Economic History - - General - - - Development of the Discipline: Historiographical; Sources and Methods

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