IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Log in (now much improved!) to save this paper

The Narrow and the Broad Approach to Evolutionary Modeling in Economics

Listed author(s):
  • Heinrich, Torsten

Some models in evolutionary economics rely on direct analogies to genetic evolution: Assuming a population of firms with routines, technologies and strategies on which forces of diversity generation and selection act. This narrow conception can build upon previous findings from evolutionary biology. Broader concepts of evolution allow either many or just one adaptive entity instead of necessarily requiring a population. Thus, an institution or a society can also be understood as the evolutionary entity. Both the narrow and the broad approach have been extensively used in the literature, albeit in different literature traditions. The paper gives an overview over the conception and the development of both approaches to evolutionary modeling and argues that a generalization is needed to realize the full potential of evolutionary modeling.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: https://mpra.ub.uni-muenchen.de/75797/1/MPRA_paper_75797.pdf
File Function: original version
Download Restriction: no

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 75797.

as
in new window

Length:
Date of creation: 24 Dec 2016
Handle: RePEc:pra:mprapa:75797
Contact details of provider: Postal:
Ludwigstraße 33, D-80539 Munich, Germany

Phone: +49-(0)89-2180-2459
Fax: +49-(0)89-2180-992459
Web page: https://mpra.ub.uni-muenchen.de

More information through EDIRC

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as
in new window


  1. Torsten Heinrich & Henning Schwardt, 2013. "Institutional Inertia and Institutional Change in an Expanding Normal-Form Game," Games, MDPI, Open Access Journal, vol. 4(3), pages 1-28, August.
  2. Witold Kwasnicki, 1996. "Innovation regimes, entry and market structure," Journal of Evolutionary Economics, Springer, vol. 6(4), pages 375-409.
  3. J. Doyne Farmer, 2002. "Market force, ecology and evolution," Industrial and Corporate Change, Oxford University Press, vol. 11(5), pages 895-953, November.
  4. Richard R. Nelson & Sidney G. Winter & Herbert L. Schuette, 1976. "Technical Change in an Evolutionary Model," The Quarterly Journal of Economics, Oxford University Press, vol. 90(1), pages 90-118.
  5. Alex Coad, 2010. "The Exponential Age Distribution and the Pareto Firm Size Distribution," Journal of Industry, Competition and Trade, Springer, vol. 10(3), pages 389-395, September.
  6. Farmer, J. Doyne & Lafond, François, 2016. "How predictable is technological progress?," Research Policy, Elsevier, vol. 45(3), pages 647-665.
  7. Krugman, Paul, 1994. "Complex Landscapes in Economic Geography," American Economic Review, American Economic Association, vol. 84(2), pages 412-416, May.
  8. Heinrich, Torsten, 2015. "A Replicator Dynamic and Simulation Analysis of Network Externalities and Compatibility Among Standards," MPRA Paper 67198, University Library of Munich, Germany.
  9. Engelbert Stockhammer & Jo Michell, 2014. "Pseudo-Goodwin cycles in a Minsky model," Working Papers PKWP1405, Post Keynesian Economics Study Group (PKSG).
  10. Silverberg, Gerald & Verspagen, Bart, 2007. "The size distribution of innovations revisited: An application of extreme value statistics to citation and value measures of patent significance," Journal of Econometrics, Elsevier, vol. 139(2), pages 318-339, August.
  11. Arthur, W Brian, 1989. "Competing Technologies, Increasing Returns, and Lock-In by Historical Events," Economic Journal, Royal Economic Society, vol. 99(394), pages 116-131, March.
  12. Elhanan Helpman & Marc J. Melitz & Stephen R. Yeaple, 2004. "Export Versus FDI with Heterogeneous Firms," American Economic Review, American Economic Association, vol. 94(1), pages 300-316, March.
  13. John Conlisk, 1989. "An Aggregate Model of Technical Change," The Quarterly Journal of Economics, Oxford University Press, vol. 104(4), pages 787-821.
  14. Vernon L. Smith, 1962. "An Experimental Study of Competitive Market Behavior," Journal of Political Economy, University of Chicago Press, vol. 70, pages 322-322.
  15. Heinrich, Torsten, 2014. "Standard wars, tied standards, and network externality induced path dependence in the ICT sector," Technological Forecasting and Social Change, Elsevier, vol. 81(C), pages 309-320.
  16. Wolfram Elsner, 2013. "State and future of the ‘citadel’ and of the heterodoxies in economics: challenges and dangers, convergences and cooperation," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 10(3), pages 286—298-2, December.
  17. Heinrich, Torsten, 2015. "Evolution-Based Approaches in Economics and Evolutionary Loss of Information," MPRA Paper 68384, University Library of Munich, Germany.
  18. 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.
  19. Mueller, Matthias & Bogner, Kristina & Buchmann, Tobias & Kudic, Muhamed, 2015. "Simulating knowledge diffusion in four structurally distinct networks: An agent-based simulation model," Hohenheim Discussion Papers in Business, Economics and Social Sciences 05-2015, University of Hohenheim, Faculty of Business, Economics and Social Sciences.
  20. Christian Cordes & Tong-Yaa Su & Pontus Strimling, 2015. "Going Through a Crisis: Firm Devekopment and Firm SIze Distributions," Papers on Economics and Evolution 2015-06, Philipps University Marburg, Department of Geography.
  21. Heinrich, Torsten & Dai, Shuanping, 2016. "Diversity of firm sizes, complexity, and industry structure in the Chinese economy," Structural Change and Economic Dynamics, Elsevier, vol. 37(C), pages 90-106.
  22. C. A. Hidalgo & B. Klinger & A. -L. Barabasi & R. Hausmann, 2007. "The Product Space Conditions the Development of Nations," Papers 0708.2090, arXiv.org.
  23. Villena, Mauricio G. & Villena, Marcelo J., 2004. "Evolutionary Game Theory and Thorstein Veblen’s Evolutionary Economics: Is EGT Veblenian?," MPRA Paper 28889, University Library of Munich, Germany.
  24. David, Paul A, 1985. "Clio and the Economics of QWERTY," American Economic Review, American Economic Association, vol. 75(2), pages 332-337, May.
  25. Bruce Edmonds & David Hales, 2003. "Replication, Replication and Replication: Some Hard Lessons from Model Alignmen," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 6(4), pages 1-11.
  26. Giulio Bottazzi & Angelo Secchi, 2006. "Explaining the distribution of firm growth rates," RAND Journal of Economics, RAND Corporation, vol. 37(2), pages 235-256, June.
  27. Iori, Giulia & De Masi, Giulia & Precup, Ovidiu Vasile & Gabbi, Giampaolo & Caldarelli, Guido, 2008. "A network analysis of the Italian overnight money market," Journal of Economic Dynamics and Control, Elsevier, vol. 32(1), pages 259-278, January.
  28. Georgescu-Roegen, Nicholas, 1975. "Dynamic models and economic growth," World Development, Elsevier, vol. 3(11-12), pages 765-783.
  29. Xavier Gabaix, 1999. "Zipf's Law for Cities: An Explanation," The Quarterly Journal of Economics, Oxford University Press, vol. 114(3), pages 739-767.
  30. Stefania Vitali & Stefano Battiston, 2013. "The Community Structure of the Global Corporate Network," Papers 1301.2363, arXiv.org.
  31. Bormotov, Michael, 2009. "Economic cycles: historical evidence, classification and explication," MPRA Paper 19616, University Library of Munich, Germany.
  32. Nigel Gilbert & Andreas Pyka & Petra Ahrweiler, 2001. "Innovation Networks - a Simulation Approach," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 4(3), pages 1-8.
  33. Didier SORNETTE, "undated". "Dragon-Kings, Black Swans and the Prediction of Crises," Swiss Finance Institute Research Paper Series 09-36, Swiss Finance Institute.
  34. Christian Cordes, 2006. "Darwinism in economics: from analogy to continuity," Journal of Evolutionary Economics, Springer, vol. 16(5), pages 529-541, December.
  35. J. Doyne Farmer & Fabrizio Lillo, 2003. "On the origin of power law tails in price fluctuations," Papers cond-mat/0309416, arXiv.org, revised Jan 2004.
  36. Nelson, Richard R & Winter, Sidney G, 1974. "Neoclassical vs. Evolutionary Theories of Economic Growth: Critique and Prospectus," Economic Journal, Royal Economic Society, vol. 84(336), pages 886-905, December.
  37. Saviotti, Pier Paolo & Pyka, Andreas, 2013. "From necessities to imaginary worlds: Structural change, product quality and economic development," Technological Forecasting and Social Change, Elsevier, vol. 80(8), pages 1499-1512.
  38. Silverberg, Gerald & Dosi, Giovanni & Orsenigo, Luigi, 1988. "Innovation, Diversity and Diffusion: A Self-organisation Model," Economic Journal, Royal Economic Society, vol. 98(393), pages 1032-1054, December.
  39. Zimmermann, Christian, 2015. "On the Need for a Replication Journal," Working Papers 2015-16, Federal Reserve Bank of St. Louis.
  40. B. B. Mandelbrot, 2001. "Scaling in financial prices: I. Tails and dependence," Quantitative Finance, Taylor & Francis Journals, vol. 1(1), pages 113-123.
  41. Erzo G. J. Luttmer, 2007. "Selection, Growth, and the Size Distribution of Firms," The Quarterly Journal of Economics, Oxford University Press, vol. 122(3), pages 1103-1144.
  42. Albin, Peter & Foley, Duncan K., 1992. "Decentralized, dispersed exchange without an auctioneer : A simulation study," Journal of Economic Behavior & Organization, Elsevier, vol. 18(1), pages 27-51, June.
  43. Geoffrey M. Hodgson, 2002. "Darwinism in economics: from analogy to ontology," Journal of Evolutionary Economics, Springer, vol. 12(3), pages 259-281.
  44. Lengnick, Matthias & Krug, Sebastian & Wohltmann, Hans-Werner, 2013. "Money creation and financial instability: An agent-based credit network approach," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy (IfW), vol. 7, pages 1-44.
  45. Lorenz, Hans-Walter, 1987. "Strange attractors in a multisector business cycle model," Journal of Economic Behavior & Organization, Elsevier, vol. 8(3), pages 397-411, September.
  46. Wolfram Elsner, 2012. "The Theory of Institutional Change Revisited: The Institutional Dichotomy, Its Dynamic, and Its Policy Implications in a More Formal Analysis," Journal of Economic Issues, M.E. Sharpe, Inc., vol. 46(1), pages 1-44, March.
  47. Steve Keen, 1995. "Finance and Economic Breakdown: Modeling Minsky's "Financial Instability Hypothesis"," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 17(4), pages 607-635, July.
  48. Gerald Silverberg & Luc Soete (ed.), 1994. "The Economics Of Growth And Technical Change," Books, Edward Elgar Publishing, number 408.
  49. Gräbner, Claudius & Kapeller, Jakop, 2015. "New Perspectives on Institutionalist Pattern Modeling: Systemism, Complexity, and Agent-Based Modeling," MPRA Paper 77334, University Library of Munich, Germany.
  50. Pier Saviotti & Andreas Pyka, 2008. "Micro and macro dynamics: Industry life cycles, inter-sector coordination and aggregate growth," Journal of Evolutionary Economics, Springer, vol. 18(2), pages 167-182, April.
  51. Gatti, Domenico Delli & Guilmi, Corrado Di & Gaffeo, Edoardo & Giulioni, Gianfranco & Gallegati, Mauro & Palestrini, Antonio, 2005. "A new approach to business fluctuations: heterogeneous interacting agents, scaling laws and financial fragility," Journal of Economic Behavior & Organization, Elsevier, vol. 56(4), pages 489-512, April.
  52. Brian Arthur, W. & Ermoliev, Yu. M. & Kaniovski, Yu. M., 1987. "Path-dependent processes and the emergence of macro-structure," European Journal of Operational Research, Elsevier, vol. 30(3), pages 294-303, June.
  53. John P. Watkins, 2010. "Mainstream Efforts to Tell a Better Story - Natural Selection as a Misplaced Metaphor: The Problem of Corporate Power," Journal of Economic Issues, M.E. Sharpe, Inc., vol. 44(4), pages 991-1008, December.
  54. Dosi, Giovanni & Ermoliev, Yuri & Kaniovski, Yuri, 1994. "Generalized urn schemes and technological dynamics," Journal of Mathematical Economics, Elsevier, vol. 23(1), pages 1-19, January.
  55. G. Bottazzi & E. Cefis & G. Dosi & A. Secchi, 2007. "Invariances and Diversities in the Patterns of Industrial Evolution: Some Evidence from Italian Manufacturing Industries," Small Business Economics, Springer, vol. 29(1), pages 137-159, June.
  56. Herman E. Daly, 1968. "On Economics as a Life Science," Journal of Political Economy, University of Chicago Press, vol. 76, pages 392-392.
  57. Battiston, Stefano & Delli Gatti, Domenico & Gallegati, Mauro & Greenwald, Bruce & Stiglitz, Joseph E., 2007. "Credit chains and bankruptcy propagation in production networks," Journal of Economic Dynamics and Control, Elsevier, vol. 31(6), pages 2061-2084, June.
  58. Eocman Lee & Jeho Lee & Jongseok Lee, 2006. "Reconsideration of the Winner-Take-All Hypothesis: Complex Networks and Local Bias," Management Science, INFORMS, vol. 52(12), pages 1838-1848, December.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:75797. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.