An economic model featuring entrepreneurial behaviour is built and tested using simulation techniques. The building blocks of our model are bounded-rational actors with specific sets of endowments: ""entrepreneurial spirit'', human capital, and venture capital. The entrepreneurial behaviour to...

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...

In this paper we try to put together both the dynamics of the endogenous evolution of an industry and the corresponding dynamics on the capital market. The first module of our modelling efforts is the endogenous evolution of the industry based on the micro-behaviour of boundedly rational agents....

The building blocks of our model are bounded-rational actors with specific sets of endowments: ’entrepreneurial spirit’, human capital and venture capital. The entrepreneurial behavior to found a firm is triggered by the individuals’ endowments, their social network and the evaluation of...

In this paper we try to put together both the dynamics of the endogenous evolution of an industry and the corresponding dynamics on the capital market. The first module of our modelling efforts is the endogenous evolution of the industry based on the micro-behaviour of boundedly rational agents....

The building blocks of our model are bounded-rational actors with specific sets of endowments: 'entrepreneurial spirit', human capital and venture capital. The entrepreneurial behavior to found a firm is triggered by the individuals' endowments, their social network and the evaluation of the...