This paper draws on institutional and evolutionary economics and contributes to an approach to environmental policy which diverges from mainstream prescriptions. The 'socio-technical system' is the core concept: this is a complex made of co-evolving institutions, technologies, markets and actors...

This study introduces a comprehensive model of institutional grafting by examining the formation of legal institutions as shaped by three forces: (1) cultural, (2) structural, and (3) political. The model is used to argue that a country's growth rates are a function of the distance that new...

The paper presents the analysis of recent developments of Schumpeterian theory of entrepreneurship and innovation in light of evolutionary economics.

Moore suggested an exponential growth of the number of transistors in integrated electronic circuits. In this paper, Moore’s law is derived from a preferential growth model of successive production technology generations. The theory suggests that products manufactured with a new production...

The aim of this work is to establish the personal income distribution from the elementary constituents of a free market; products of a representative good and agents forming the economic network. The economy is treated as a self-organized system. Based on the idea that the dynamics of an economy...

Traditional macroeconomics and agent-based simulation (ABS) seem to be two disjunctive worlds, two different sprachspiele in the sense of Wittgenstein. It is not just the fact that macroeconomics has a long and distinguished history that on top of more than 200 years of discourse has recently...

This essay argues that articles in economics, especially in the fields of evolutionary and institutional economics, are as much cited in biology as in economics. The citation analysis conducted in the essay suggests that economics is now becoming the Mecca of biology.

An evolutionary model of the product life cycle is applied to derive the experience curve and the market size of (expensive) durable goods. The experience (learning) curve suggests that the real costs per unit decrease with an increasing cumulative output (Henderson's law). Based on the idea...

The model presented here derives the product life cycle of durable goods. It is based on the idea that the purchase process consists of first purchase and repurchase. First purchase is determined by the market penetration process (diffusion process), while repurchase is the sum of replacement...

From an Latin American perspective, a framework has been developed with input from social studies of technology (SST) and the complex systems evolutionary economics (EE) to address issues related to innovation processes, technological change and development in this region. The framework operates...