Do lower input prices to creative production reduce output prices or do they increase product variety? We propose an evolutionary model connecting price dynamics in input markets to innovation and variety generation in output markets. Lower input prices may be competed away in market share...

We propose a new co-evolutionary computational two-sector approach to the design of national innovation policy that recognizes the importance of inter-sectoral absorptive capacity constraints in innovation linkages between sectors in an economy. We show how the innovative capacity of an upstream...

We address the question of the nature of evolutionary economics as an empirical science. We argue that economics is both a qualitative science (at the generic level) and a quantitative science (at the operational level). We map out how the generic approach provides a framework for empirical...

Early stage innovation can benefit from cooperative pooling of distributed information and other innovation resources in order to discover entrepreneurial opportunities (what Allen and Potts (2016) call the ‘innovation commons'). The innovation commons is a private ordering, but social welfare...

What are the long-run economic and policy consequences of wide-spread blockchain technology adoption? We examine the structural economic effects of this institutional innovation as disintermediation in markets, dehierarchicalisation of organisations, and growing private provision of economic...

We propose a new history-friendly approach to evolutionary socio-economic dynamics based around competition between five ‘utopias', as central ideas about which to order society: capitalism, socialism, democracy, nature, and nationalism (Montgomery and Chirot 2015). In our model, citizens...

We present a new evolutionary political economy approach to the study of long-run dynamics of socio-economic evolution and change based on a co-evolutionary model of differential citizen contributions to competing ‘utopias' – market, statism, and environmentalism. We model the transition to...

The structure and dynamics of knowledge is central to modern evolutionary economics. In the canonical evolutionary model, knowledge exists in the routines and competencies of firms, an approach optimized to study industrial dynamics. In mainstream economics however, knowledge is represented as...

A new economic model for analysis of scholarly publishing — journal publishing in particular — is proposed that draws on club theory. The standard approach builds on market failure in the private production (by research scholars) of a public good (new scholarly knowledge). In that model...

Identity is an integral part of all but the most trivial economic, social and political transactions. Using transaction cost economics, we determine that identity costs are a distinct and measurable subset of transaction costs. In certain transactions, such as credit arrangements, identity costs...