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Economic emergence: An evolutionary economic perspective
Foster, John; Metcalfe, J. Stan - In: Journal of Economic Behavior & Organization 82 (2012) 2, pp. 420-432
The standard neoclassical approach to economic theorising excludes, by definition, economic emergence and the related phenomenon of entrepreneurship. We explore how the most economic of human behaviours, entrepreneurship, came to be largely excluded from mainstream economic theory. In contrast,...
Persistent link: https://www.econbiz.de/10010576973
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Economic emergence : an evolutionary economic perspective
Foster, John; Metcalfe, John S. - In: Journal of economic behavior & organization : JEBO 82 (2012) 2/3, pp. 420-432
Persistent link: https://www.econbiz.de/10009658690
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Evolution and Economic Complexity
Metcalfe, J. Stanley (contributor); Foster, John (contributor) - Edward Elgar
Dedicated to the goal of furthering evolutionary economic analysis, this book provides a coherent scientific approach to deal with the real world of continual change in the economic system. Expansive in its scope, this book ranges from abstract discussions of ontology, analysis and theory to...
Persistent link: https://www.econbiz.de/10011159872
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Frontiers of Evolutionary Economics
Foster, John (contributor); Metcalfe, J. Stanley (contributor) - Edward Elgar
Modern evolutionary economics is now nearly two decades old and in this excellent book, a distinguished group of evolutionary economists identify the most important developments and discuss the direction of future research. By moving away from traditional concerns with the operation of selection...
Persistent link: https://www.econbiz.de/10011253702
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Applied Evolutionary Economics and Complex Systems
Foster, John (contributor); Hölzl, Werner (contributor) - Edward Elgar
This book takes up the challenge of developing an empirically based foundation for evolutionary economics built upon complex system theory. The authors argue that modern evolutionary economics is at a crossroads. At a theoretical level, modern evolutionary economics is moving away from the...
Persistent link: https://www.econbiz.de/10011254739
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Energy, aesthetics and knowledge in complex economic systems
Foster, John - In: Journal of Economic Behavior & Organization 80 (2011) 1, pp. 88-100
It is argued that the fact that economic systems are dissipative structures must be taken fully into account in economics if we are to understand the nature of the economic–ecological interface and how to deal with emergent environmental problems, such as global warming. Such problems are a...
Persistent link: https://www.econbiz.de/10011048170
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Interactive expectations
Foster, John; Flieth, Burkhard - In: Journal of Evolutionary Economics 12 (2002) 4, pp. 375-395
In modeling expectation formation, economic agents are usually viewed as forming expectations adaptively or in … accordance with some rationality postulate. We offer an alternative nonlinear model where agents exchange their opinions and …, we show that this kind of model performs well in simulation experiments. Focusing upon producers' expectations in the …
Persistent link: https://www.econbiz.de/10005760539
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Evolution and economic complexity: an overview
Foster, John; Metcalfe, Stan - In: Economics of Innovation and New Technology 18 (2009) 7, pp. 607-610
The articles in this special issue are based upon a selection of papers presented at the 'Brisbane Club' section of the 2007 STOREP Conference. We provide introductory reviews of these articles and briefly assess their contributions to the advancement of our understanding of economic evolution,...
Persistent link: https://www.econbiz.de/10008603430
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From simplistic to complex systems in economics
Foster, John - 2005
The applicability of complex systems theory in economics is evaluated and compared with standard approaches to economic theorising based upon constrained optimisation. A complex system is defined in the economic context and differentiated from complex systems in physio-chemical and biological...
Persistent link: https://www.econbiz.de/10009479538
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Competitive selection, self-organisation and Joseph A. Schumpeter
Foster, John - In: Journal of Evolutionary Economics 10 (2000) 3, pp. 311-328
Post-Schumpeterians have tended to use biological analogies to understand economic evolution, in contrast to Schumpeter himself. In this paper it is argued that the biological analogies used tend to be outdated and that Schumpeter espoused an intuitive understanding of the evolutionary economic...
Persistent link: https://www.econbiz.de/10005760591