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General premise -- Theoretical frame -- Innovation, uncertainty, entrepreneurship : modelling the dynamic process of the economy -- Mainstream economics and heterodox economics : a misleading controversy : "necessary" system versus "natural" system -- An explanation of economic change and...
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The study investigates the endogenous mechanism of innovation using a model based on neo-Austrian and Schumpeterian economics.The model, which consists of adaptive and technological features, is simulated over an interval of 16 to 64 periods supposing the existence of 18 firms. The first eight...
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