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...

This paper shows how cognitive human dispositions that take effect at the level of an individual firm’s corporate culture have repercussions on an industry's evolution. In our theory, the latter is attributable to evolving corporate cultures coupled with changes in a firm's business...

This paper is an empirical test of the hypothesis that the appropriateness of differentbusiness strategies is conditional on the firm’s distance to the industry frontier. We usedata on four 2-digit high-tech manufacturing industries in the US over the period 1972-1999, and apply...

In this paper we present an overview of methods and components of formal economic modelsemploying evolutionary approaches. This compromises two levels: (1) techniques ofevolutionary modelling, including multi-agent modelling, evolutionary algorithms andevolutionary game theory; (2) building...

Recently evolutionary economists started to pay attention to ontological issues in theirown subfield. Two projects dominate the discussions: Generalized Darwinism(henceforth: GD), promoted by Geoff Hodgson and Thorbjørn Knudsen, and theContinuity Hypothesis (henceforth: CH), put forward by...

The theoretical literature identifies three important entrepreneurial dimensions,namely discovering new opportunities, responsiveness to uncertainty, and coordination of a firm.In the empirical literature, past experience has been identified as having an important influenceon organizational...