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In this work we discuss the main building blocks, achievements and challenges of an evolutionary interpretation of the relation between mechanisms of coordination and drivers of change in modern economies, seen as complex evolving systems. It is an evident stylised fact of modern economic...
Persistent link: https://www.econbiz.de/10011565231
This work presents the evolutionary growth theory, which studies the drivers and patterns of technological change and production together with the (imperfect) mechanisms of coordination among a multitude of firms. This requires to studies economies as complex evolving systems, i.e. as ecologies...
Persistent link: https://www.econbiz.de/10014464394
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The paper develops a growth model with evolutionary microfounded structural change. The model endogenises both technical change and changes in final and intermediate demand as affecting macro-economic growth, through the structural change of the economy. The aim is to formally account for the...
Persistent link: https://www.econbiz.de/10003740246
The behavioral theory of the firm has been acknowledged as one of the most fundamental pillars on which evolutionary theorizing in economics has been built. Nelson and Winter’s 1982 book is pervaded by the philosophy and concepts previously developed by Cyert, March and Simon. On the other...
Persistent link: https://www.econbiz.de/10003740286
In this paper we study a class of evolutionary models of industrial agglomeration with local positive feedbacks, which allow for a wide set of empirically-testable implications. Their roots rest in the Generalized Polya Urn framework. Here, however, we build on a birth-death process over a...
Persistent link: https://www.econbiz.de/10003740316