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The evolutionary theory of the firm: Routines, complexity and change

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  • Werner Hölzl

    (Vienna University of Economics & B.A.)

Abstract

This paper provides an overview on the evolutionary theory of the firm. The specific feature of the evolutionary approach is that it explains the adaptive behaviors of firms through the tension between innovation and selection. It is suggested that the evolutionary theory can provide a useful basis for a theory of the firm which is concerned with change over time and development.

Suggested Citation

  • Werner Hölzl, 2005. "The evolutionary theory of the firm: Routines, complexity and change," Working Papers geewp46, Vienna University of Economics and Business Research Group: Growth and Employment in Europe: Sustainability and Competitiveness.
    • Handle: RePEc:wiw:wiwgee:geewp46
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    Keywords

    theory of the firm; complexity; routines; change of routines;
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