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The tremendous development of an easy access to computational power within the last 30 years has led to the widespread use of numerical approaches in almost all scientific disciplines. The first generation of simulation models was rather focused on stylized empirical phenomena. With agent-based...
Persistent link: https://www.econbiz.de/10010263008
Replicator dynamic modelling (rdm) is used to discuss industrial evolution problems with heterogeneous agents. However, some of the models tend to be very complex and, therefore, analytical solutions cannot be obtained. Hence, the paper proposes to start with a relatively simple model and check...
Persistent link: https://www.econbiz.de/10010267054
Persistent link: https://www.econbiz.de/10000128144
Replicator dynamic modelling (rdm) is used to discuss industrial evolution problems with heterogeneous agents. However, some of the models tend to be very complex and, therefore, analytical solutions cannot be obtained. Hence, the paper proposes to start with a relatively simple model and check...
Persistent link: https://www.econbiz.de/10003725687
Evolutionary economics in the initial version of Nelson and Winter is concentrated on the analysis of the evolution of industries and markets and in that entrepreneurial innovation activities. But a theory of the firm beneath the level of the industry is not taken into account to a large extent....
Persistent link: https://www.econbiz.de/10003315432
The focus of evolutionary economics is a process of continuous economic and organizational change. Currently there is no agreement on the explanation of economic evolution. Rather there are competing interpretations. To achieve a common understanding of economic evolution, from the perspective...
Persistent link: https://www.econbiz.de/10003950820
Innovation is the major driver of economic growth and development. To analyze innovation processes the restriction of a framework suited to the analysis of innovation towards the industrial sphere of an economy is not sufficient because of the important co-evolutionary dimensions of innovation....
Persistent link: https://www.econbiz.de/10003877639
This paper analyses the current financial crisis from a Neo-Schumpeterian perspective. We postulate four linkages that led to the crisis, and that will help us find our way out of the crisis. Therefore, we show that the current evolution is very similar to the Japanese crisis in the beginning of...
Persistent link: https://www.econbiz.de/10003826811
Persistent link: https://www.econbiz.de/10001663718
Persistent link: https://www.econbiz.de/10001616966