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An Evolutionary Theory of Economic Change
This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in sea...
Routledge Handbook of Evolutionary Economics
While dating from post-Classical economists such as Thorstein Veblen and Joseph Schumpeter, the inception of the modern field of evolutionary economics is usually dated to the early 1980s. Broadly speaking, evolutionary economics sees the economy as undergoing continual, evolutionary change. Evolutionary change indicates that these changes were not planned, but rather were the result of innovations and selection processes. These often involved winners and losers, but most importantly, they resulted in actors learning what was and was not working. Evolutionary economics, in contrast to mainstream economics, emphasises the relevance of variables such as technology, institutions, decision rules...
Innovation and the Evolution of Industries
A new approach to the analysis of technological process, emphasising the tailoring of formal modelling to historical context.
Handbook on the Economics and Theory of the Firm
This unique Handbook explores both the economics of the firm and the theory of the firm, two areas which are traditionally treated separately in the literature. On the one hand, the former refers to the structure, organization and boundaries of the firm, while the latter is devoted to the analysis of behaviours and strategies in particular market contexts. the novel concept underpinning this authoritative volume is that these two areas closely interact, and that a framework must be articulated in order to illustrate how linkages can be created. This interpretative framework is comprehensively developed in the editors' introduction, and the expert contributors – more than fifty academics of...
Evolutionary Economics: Program and Scope
Evolutionary Economics: Program and Scope offers a fresh look at the paradigmatic foundations and basic theoretical propositions of economics. Twelve authors - each of them with his own distinct contribution to economics - make a step forward by reinterpreting major areas of micro and macroeconomics in line with modern evolutionary thinking. This volume offers a unified approach to economics that allows recent developments in various strands of Evolutionary Economics to be integrated and major positions of Neoclassical Economics to be reconsidered. The chapters on `Evolutionary Macro Economics' explore macro areas such as the division of labor and knowledge, technology and institutions, popu...
The Emergence of Routines
This book explains how things get organized and how routines emerge in businesses and business life. The chapters explore historical episodes in a wide variety of settings, and encourage a view of firm operations and development that is much more realistic, and much more practically helpful, than the standard economic perspective.
Rationality, Institutions and Economic Methodology
Looks at ways to increase the scope and power of institutional economics. Different approaches to economic methodology are considered and the broader notions of rationality offered by institutional economics are discussed.
The Oxford Handbook of Innovation
This handbook provides academics and students with a comprehensive and holistic understanding of the phenomenon of innovation.
Evolution, Organization and Economic Behaviour
Understanding the behaviour of individuals and firms is at the heart of evolutionary economics, and also of related fields such as behavioural economics, management, and psychology. This book brings together a set of cutting-edge theoretical and empirical contributions addressing individual agents and their interaction, the evolution of firm organization, as well as the interplay of firm dynamics and regional development.
Diversity in the Knowledge Economy and Society
The key message of this book is that heterogeneity should be seen as an intrinsic and indispensable element of knowledge systems. The authors address the concept of heterogeneity in a multi-disciplinary fashion, including perspectives from evolutionary economics and innovation system studies, and relate this approach to existing theories in a broad range of fields. The book postulates that one approach to such a re-conceptualization is what we call the Mode 3 system consisting of Innovation Networks and Knowledge Clusters for knowledge creation, diffusion and use. This is a multi-layered, multi-modal, multi-nodal and multi-lateral system, encompassing mutually and complementary reinforcing innovation networks and knowledge clusters consisting of human and intellectual capital, shaped by social capital and underpinned by financial capital. Diversity in the Knowledge Economy and Society will appeal to academics and researchers of innovation and science, knowledge management and economics.
