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The New Evolutionary Economics
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Book Synopsis The New Evolutionary Microeconomics by : Jason Potts
Download or read book The New Evolutionary Microeconomics written by Jason Potts and published by Edward Elgar Publishing. This book was released on 2000 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work acts as a critique of the basis of neoclassical microeconomics, and makes a proposal for the structure of a new evolutionary theory.
Book Synopsis The New Evolutionary Economics by : Kurt Dopfer
Download or read book The New Evolutionary Economics written by Kurt Dopfer and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This three volume set gathers together selected key articles in evolutionary economics, ordering these into domains of micro analysis - concerned with agents - meso analysis - which is concerned with rule populations and trajectories - and macro analysis, which is about the structure and development of the whole economy. This authoritative collection, with an original introduction by the editors, will be of interest to scholars and researchers seeking to understand how evolutionary economics fits together and who seek to advance such an integrated approach.
Book Synopsis An Evolutionary Theory of Economic Change by : Richard R. Nelson
Download or read book An Evolutionary Theory of Economic Change written by Richard R. Nelson and published by Harvard University Press. This book was released on 1985-10-15 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.
Book Synopsis Modern Evolutionary Economics by : Richard R. Nelson
Download or read book Modern Evolutionary Economics written by Richard R. Nelson and published by Cambridge University Press. This book was released on 2018-05-03 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: Evolutionary economics sees the economy as always in motion with change being driven largely by continuing innovation. This approach to economics, heavily influenced by the work of Joseph Schumpeter, saw a revival as an alternative way of thinking about economic advancement as a result of Richard Nelson and Sidney Winter's seminal book, An Evolutionary Theory of Economic Change, first published in 1982. In this long-awaited follow-up, Nelson is joined by leading figures in the field of evolutionary economics, reviewing in detail how this perspective has been manifest in various areas of economic inquiry where evolutionary economists have been active. Providing the perfect overview for interested economists and social scientists, readers will learn how in each of the diverse fields featured, evolutionary economics has enabled an improved understanding of how and why economic progress occurs.
Book Synopsis The Evolutionary Foundations of Economics by : Kurt Dopfer
Download or read book The Evolutionary Foundations of Economics written by Kurt Dopfer and published by Cambridge University Press. This book was released on 2005-05-23 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is widely recognised that mainstream economics has failed to translate micro consistently into macro economics and to provide endogenous explanations for the continual changes in the economic system. Since the early 1980s, a growing number of economists have been trying to provide answers to these two key questions by applying an evolutionary approach. This new departure has yielded a rich literature with enormous variety, but the unifying principles connecting the various ideas and views presented are, as yet, not apparent. This 2005 volume brings together fifteen original articles from scholars - each of whom has made a significant contribution to the field - in their common effort to reconstruct economics as an evolutionary science. Using meso economics as an analytical entity to bridge micro and macro economics as well as static and dynamic realms, a unified economic theory emerges.
Book Synopsis Complexity and Evolution by : David S. Wilson
Download or read book Complexity and Evolution written by David S. Wilson and published by MIT Press. This book was released on 2016-08-19 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: An exploration of how approaches that draw on evolutionary theory and complexity science can advance our understanding of economics. Two widely heralded yet contested approaches to economics have emerged in recent years: one emphasizes evolutionary theory in terms of individuals and institutions; the other views economies as complex adaptive systems. In this book, leading scholars examine these two bodies of theory, exploring their possible impact on economics. Relevant concepts from evolutionary theory drawn on by the contributors include the distinction between proximate and ultimate causation, multilevel selection, cultural change as an evolutionary process, and human psychology as a product of gene-culture coevolution. Applicable ideas from complexity theory include self-organization, fractals, chaos theory, sensitive dependence, basins of attraction, and path dependence. The contributors discuss a synthesis of complexity and evolutionary approaches and the challenges that emerge. Focusing on evolutionary behavioral economics, and the evolution of institutions, they offer practical applications and point to avenues for future research. Contributors Robert Axtell, Jenna Bednar, Eric D. Beinhocker, Adrian V. Bell, Terence C. Burnham, Julia Chelen, David Colander, Iain D. Couzin, Thomas E. Currie, Joshua M. Epstein, Daniel Fricke, Herbert Gintis, Paul W. Glimcher, John Gowdy, Thorsten Hens, Michael E. Hochberg, Alan Kirman, Robert Kurzban, Leonhard Lades, Stephen E. G. Lea, John E. Mayfield, Mariana Mazzucato, Kevin McCabe, John F. Padgett, Scott E. Page, Karthik Panchanathan, Peter J. Richerson, Peter Schuster, Georg Schwesinger, Rajiv Sethi, Enrico Spolaore, Sven Steinmo, Miriam Teschl, Peter Turchin, Jeroen C. J. M. van den Bergh, Sander E. van der Leeuw, Romain Wacziarg, John J. Wallis, David S. Wilson, Ulrich Witt
Book Synopsis Microfoundations of Evolutionary Economics by : Yoshinori Shiozawa
Download or read book Microfoundations of Evolutionary Economics written by Yoshinori Shiozawa and published by Springer. This book was released on 2019-06-27 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides for the first time the microfoundations of evolutionary economics, enabling the reader to grasp a new framework for economic analysis that is compatible with evolutionary processes. Any independent approach to economics must include a value theory (or price theory) and price and quantity adjustment processes. Evolutionary economics has rightly and successfully concentrated its efforts on explaining evolutionary processes in technology and institutions. However, it does not have its own value theory and is not capable of explaining the workings of everyday economics processes, in which any evolutionary process would take place. Our point of departure is the addition of myopic agents with severely limited rational and forecasting capacities (in stark contrast to mainstream economics). We show how myopic agents, in a complex world, can produce a stable price system and demonstrate how they can adjust their production to changing demand flows. Agents behave without any knowledge of the overall process, and they generate a stable economy as large as the global network of exchanges. This is the true “miracle” of the market mechanism. In contrast to mainstream general equilibrium theory, this miracle can be explained without the need for an auctioneer or infinitely rational agents. Thanks to this book, evolutionary economics can now claim to be an independent approach to economics that can completely replace mainstream neoclassical economics.
Book Synopsis Law, Economics and Evolutionary Theory by : Peer Zumbansen
Download or read book Law, Economics and Evolutionary Theory written by Peer Zumbansen and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Evolutionary theory belongs to the rare species of theories that are simultaneously fundamental and over-arching, implicating as it does numerous life contexts as well as an array of scholarly disciplines. Armed with a profound grasp of evolutionary theory and its implications to social research, Professors Zumbansen and Calliess have mobilized an appropriately diverse and truly stellar group of academics to investigate how this theory may provide new insights about law, economics, and their inter-relations. Cast against an especially broad intellectual backdrop set by the editors, this volume is sure to become a standard reference in literature. Amir N. Licht, Radzyner School of Law, Israel Zumbansen and Calliess have done a wonderful job in assembling papers from the leading scholars in the field, who draw on evolutionary approaches for explaining developments in both economics and the law. Anybody interested in issues of institutional change will be inspired by the wealth of ideas and the diversity of perspectives. Stefan Voigt, University of Hamburg, Germany Law and economics has arguably become one of the most influential theories in contemporary legal theory and adjudication. The essays in this volume, authored by both legal scholars and economists, constitute lively and critical engagements between law and economics and new institutional economics from the perspectives of legal and evolutionary theory. The result is a fresh look at core concepts in law and economics such as institutions , institutional change and market failure that offer new perspectives on the relationship between economic and legal governance. The increasingly transnational dimension of regulatory governance presents lawyers, economists and social scientists with an unprecedented number of complex analytical and conceptual questions. The contributions to this volume engage with legal theory, new institutional economics, economic sociology and evolutionary economics in an interdisciplinary assessment of the capacities and limits of the state, markets and institutions. Drawing as well upon legal sociology and the philosophy of law, the authors expand and transform the known terrain of law and economics by applying evolutionary theory to both law and economics from a domestic and transnational perspective. Legal scholars, evolutionary and regulatory theorists, economists, economic sociologists, economic historians and political scientists will find this cutting-edge volume both challenging and engaging.
Book Synopsis Economics As an Evolutionary Science by : Arthur E. Gandolfi
Download or read book Economics As an Evolutionary Science written by Arthur E. Gandolfi and published by Transaction Publishers. This book was released on with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: A synthesis of economics and evolution. The authors suggest an expanded definition of "fitness", emphasizing not only the importance of reproduction and the quality of offspring, but also taking into account the ability of human beings to provide material wealth to their children.
Book Synopsis The Handbook of Evolutionary Economic Geography by : Ron A. Boschma
Download or read book The Handbook of Evolutionary Economic Geography written by Ron A. Boschma and published by Edward Elgar Publishing. This book was released on 2010 with total page 559 pages. Available in PDF, EPUB and Kindle. Book excerpt: This wide-ranging handbook studies and defines the paradigm of evolutionary economic geography. The distinguished contributors highlight the key conceptual, theoretical and empirical advances, and present a clear statement of their aims, objectives and methods.
Book Synopsis Foundations of Economic Evolution by : Carsten Herrmann-Pillath
Download or read book Foundations of Economic Evolution written by Carsten Herrmann-Pillath and published by Edward Elgar Publishing. This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text is an ambitious intellectual enterprise to build a naturalistic foundation for economics, with vast knowledge of physical, biological, social sciences and philosophy. Readers will discover that approaches and insights emergent in institutional studies, (social)-neuroscience, network theory, ecological economics, bio-culture dualistic evolution, etc. are persuasively placed in a grand unified frame.
Book Synopsis Evolutionary Economics: Program and Scope by : Kurt Dopfer
Download or read book Evolutionary Economics: Program and Scope written by Kurt Dopfer and published by Springer Science & Business Media. This book was released on 2001-06-30 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: Eleven papers written by economists from Europe and the US address the paradigmatic foundations and basic theoretical propositions of economics. Contributions address foundational issues including an interpretive survey looking at the most important contributions of modern evolutionary economics and the ontological basis of evolutionary economics. Next, evolutionary macroeconomics is addressed, including issues relating to evolutionary macrostatics and evolutionary macrodynamics. Evolutionary microeconomics is next featured in essays addressing the dynamic aspects of an evolutionary microdynamics. Other topics include early signs of a revolution in microeconomics and the reconstruction of major evolutionary theories of the firm, with relation to transaction and contract theories. c. Book News Inc.
Book Synopsis Evolutionary Economics and Chaos Theory by : L. A. Leydesdorff
Download or read book Evolutionary Economics and Chaos Theory written by L. A. Leydesdorff and published by Palgrave Macmillan. This book was released on 1994 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Schumpeter's Evolutionary Economics by : Esben Sloth Andersen
Download or read book Schumpeter's Evolutionary Economics written by Esben Sloth Andersen and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Schumpeter's Evolutionary Economics fills the void of analysis and serves as a standard reference work on this pioneering thinker by introducing novel interpretations of his five major books and tracing the development of his intellectual framework. Schumpeter's first German book on the nature of theoretical economics (1908) is still untranslated, but it demonstrates how he developed his evolutionary research programme by studying the inherent limitations of equilibrium economics. He presented core results on economic evolution and extended evolutionary analysis to all social sciences in the first German edition of The Theory of Economic Development (1912). He made a partial reworking of the theory of economic evolution in later editions, and this reworking was continued in Business Cycles (1939). Here Schumpeter also tried to handle the statistical and historical evidence on the waveform evolution of the capitalist economy. Capitalism, Socialism and Democracy (1942) modified the model of economic evolution and added evolutionary contributions to other social sciences. Finally, History of Economic Analysis, published posthumously, was based on his evolutionary theory of the history of economics. Andersen's analysis of Schumpeter's five books expounds the progress he made within his research programme, and examines his lack of satisfactory tools for evolutionary analysis. In so doing it places our understanding of Schumpeter on a new and firmer footing; it also suggests how modern evolutionary economics can relate to his work.
Book Synopsis The Evolutionary Analysis of Economic Policy by : Pavel Pelikán
Download or read book The Evolutionary Analysis of Economic Policy written by Pavel Pelikán and published by Edward Elgar Publishing. This book was released on 2003 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditional doctrines of economic policy have largely failed to address the fact that human economies are evolving, complex adaptive systems rather than equilibrating mechanisms. This volume represents a step towards a more evolutionary approach to economic policy.
Book Synopsis Nonlinear Dynamics and Evolutionary Economics by : Richard Hollis Day
Download or read book Nonlinear Dynamics and Evolutionary Economics written by Richard Hollis Day and published by Oxford University Press, USA. This book was released on 1993 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in physics, computers, and mathematics have made it possible to illustrate an astonishing array of potential behavior that can occur when nonlinear interactions are present. As Prigogine explains from a physicist's perspective, the fundamental role of instability and bounded rationality provide more precise understanding for evolution and changes. This volume considers these developments from various fields in the context of economic science. The work starts with a general non-mathematical discussion, introducing the major themes--nonlinearity, dynamical systems, and evolution in economic processes. The work continues with nonlinear analysis of macroeconomic growth and fluctuations. It describes analyses of economic adaptation, learning, and self-organization. The volume also scrutinizes a specific market--equities using nonlinear analysis, controlled experiments, and statistical inference when nonlinearity plays an essential role in data generation. The volume closes with an historical reflection by Richard Goodwin and a roundtable discussion on basic issues and new challenges in nonlinear economic dynamics.
Book Synopsis Marshall's Evolutionary Economics by : Tiziano Raffaelli
Download or read book Marshall's Evolutionary Economics written by Tiziano Raffaelli and published by Routledge. This book was released on 2003-08-29 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: Alfred Marshall was one of the most important economists ever to have lived. This excellent new book, from a Marshall expert respected the world over, attempts to show that Marshall anticipated some of the views that are now associated with the cognitive sciences. Examining Marshall's philosophy of the human mind, his overall approach to economics, his concern for socio-economic issues, and the fertility of his framework, this book breathes fresh life into the fascinating world of Marshallian economics.
