Recent work in the area of competing technologies and increasing returns has largely been concerned with the effectiveness of the market in delivering optimal outcomes. The existence of inefficient market outcomes suggests that there might be a place for intervention in the technology choice...

This book re-examines the rationale for public policy, concluding that the prevailing ‘public knowledge' model is evolving towards a networked or distributed model of knowledge production and use in which public and private institutions play complementary roles. It provides a set of tools and...

This outstanding collection provides a fitting tribute to the diversity and depth of Paul David’s contributions. The papers included range from simulation models of the evolution of market structure in the presence of innovation, through historical investigations of knowledge networks and...

This book focuses on knowledge-based economies and attempts to analyze dynamic innovation driven processes within those economies. It shows that evolutionary economics, and in particular the strand of applied industry and innovation studies often called Neo-Schumpeterian economics, has left the...

The Elgar Companion to Austrian Economics is a major new reference work which highlights the common ground between all the branches of the school while demonstrating the breadth and diversity within it. The Companion reflects the many areas where Austrian economists have made contributions,...

We present a choice model based on agent interaction. Interaction is modeled as face-to-face communication that takes place on a regular periodic lattice with decision-makers exchanging information only with immediate neighbors. We investigate the long-run (equilibrium) behavior of the resulting...