Hayek's well-known evolutionary concept of "competition as a discovery procedure" can be characterized as a parallel process of experimentation, in which rivalrous firms generate and test hypotheses about the best way to fulfill the consumers' preferences. Through this permanent process of...

At the third European Meeting on Applied Evolutionary Economics in Augsburg almost 120 participants from all over Europe, North and South America, and South Africa discussed the latest developments in applied Evolutionary Economics. In addition to the nine keynote lectures covering a wide range...