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Evolution and complexity in economics revisited
Dopfer, Kurt - 2011
The paper discusses recent trends in the sister sciences of evolutionary economics and complexity economics. It suggests that a unifying approach that marries the two strands is needed when reconstructing economics as a science capable of tackling the two key questions of the discipline: complex...
Persistent link: https://www.econbiz.de/10010286737
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Darwinian paradigm, cultural evolution and human purposes: On F.A. Hayek's evolutionary view of the market
Vanberg, Viktor J. - 2011
The claim that the Darwinian paradigm of blind-variation-and-selective-retention can be generalized from the biological to the socio-cultural realm has often been questioned because of the critical role played by human purposeful design in the process of cultural evolution. In light of the issue...
Persistent link: https://www.econbiz.de/10010286738
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Social dilemmas, time preferences and technology adoption in a commons problem
Joosten, Reinoud - 2011
Agents interacting on a body of water choose between technologies to catch fish. One is harmless to the resource, as it allows full recovery; the other yields high immediate catches, but low(er) future catches. Strategic interaction in one objective resource game may induce subjective games in...
Persistent link: https://www.econbiz.de/10010286741
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Towards an incentive salience model of intertemporal choice
Lades, Leonhard K. - 2011
This theoretical paper presents an incentive salience model of intertemporal choice. The model is a variation of the quasi-hyperbolic discounting model. Based on the distinction between wanting and liking, the paper presents one possible explanation of impulsive choices of smaller sooner rewards...
Persistent link: https://www.econbiz.de/10010286743
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The firm as a Darwin machine: How Generalized Darwinism can further the development of an evolutionary theory of economic growth
Stoelhorst, J. W. - 2010
of evolutionary theory to the development of concrete middle-range theories of specific economic phenomena. The purpose … can further the development of an evolutionary theory of economic growth. I will demonstrate the value of generalized … integrate the strengths of these three theories. The result of this exercise is a theory of the firm as a Darwin machine that …
Persistent link: https://www.econbiz.de/10010286744
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Competition as an ambiguous discovery procedure: A reappraisal of Hayek's epistemic market liberalism
Witt, Ulrich - 2011
Epistemic arguments play a significant role in Hayek's defense of market liberalism. His claim that market competition is a discovery procedure that serves the common good is a case in point. The hypothesis of the markets' efficient use of existing knowledge is supplemented by the idea that...
Persistent link: https://www.econbiz.de/10010286745
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Advertising, welfare economics and ethics
Steedman, Ian - 2011
taken into account in basic economic theory, explanatory or normative. It is shown here how a certain type of advertising is …
Persistent link: https://www.econbiz.de/10010286746
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What causes obesity? And why has it grown so much? An alternative view
Tomer, John F. - 2010
substantially improves upon existing economic theory. In contrast to existing theory, a number of recent health science writers have … highest rates of obesity. The essence of the theory is that obesity is the expected result when vulnerable people with low …
Persistent link: https://www.econbiz.de/10010286750
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A corporation's culture as an impetus for spinoffs and a driving force of industry evolution
Cordes, Christian; Richerson, Peter J.; Schwesinger, Georg - 2011
In infant industries, a great share of new market opportunities is depleted by firms that spinoff from incumbents. A model emphasizing the relation between incumbents' evolving corporate cultures and the generation of spinoffs explains this regularity in industry evolution. Organizations reach a...
Persistent link: https://www.econbiz.de/10010286751
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Sustainability and the problem of consumption
Witt, Ulrich - 2011
process consumer behavior has been changing. To explain the driving forces of this development, the paper introduces a theory … of evolving consumer preferences that is molded in an evolutionary paradigm. The theory allows to better assess how …
Persistent link: https://www.econbiz.de/10010286752