Innovation Complexity And Economic Evolution
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Innovation Complexity And Economic Evolution
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Author : Pier Paolo Saviotti
language : en
Publisher: Taylor & Francis
Release Date : 2023-03-23
Innovation Complexity And Economic Evolution written by Pier Paolo Saviotti and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-03-23 with Business & Economics categories.
If evolutionary economics is to compete with neoclassical economics as a general-purpose economic theory, it needs to incorporate new aspects of socioeconomic reality, such as institutions of all types, including technical, scientific, and political. Furthermore, evolutionary economics needs to be able to provide policy implications at least as interesting as those of neoclassical economics. Thus, as this book argues, evolutionary economics must become evolutionary political economy. Innovation plays a central role in the book, but not in the sense of providing a technologically determinist interpretation. Rather, the book argues that innovations do not emerge in isolation from other components of socioeconomic systems but coevolve with institutions, infrastructures and organizational forms. This concept of coevolution is absolutely central in the book and provides a link with theories of complexity. In addition to providing an epistemological basis for evolutionary economics, the link with complexity and coevolution offers the connection with evolutionary political economy. Innovations and technologies do not emerge and develop in an institutional vacuum, but interact with existing institutions and reshape them, in addition to inducing the formation of new institutions. In this process, technologies and institutions reinforce each other providing a potential mechanism to transform socioeconomic systems. The book also explores the policy implications of these innovative societies, where wealth is created but unequally distributed. The book is addressed to open-minded economists, social scientists who are dissatisfied with the approach of neoclassical economics, technologists and policy makers.
Handbook On The Economic Complexity Of Technological Change
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Author : Cristiano Antonelli
language : en
Publisher: Edward Elgar Publishing
Release Date : 2011-01-01
Handbook On The Economic Complexity Of Technological Change written by Cristiano Antonelli and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-01 with Technology & Engineering categories.
This comprehensive and innovative Handbook applies the tools of the economics of complexity to analyse the causes and effects of technological and structural change. It grafts the intuitions of the economics of complexity into the tradition of analysis based upon the Schumpeterian and Marshallian legacies. The Handbook elaborates the notion of innovation as an emerging property of the organized complexity of an economic system, and provides the basic tools to understand the recursive dynamics between the emergence of innovation and the unfolding of organized complexity. In so doing, it highlights the role of organizational thinking in explaining the introduction of innovations and the dynamics of structural change. With a new methodological approach to the economics of technological change, this wide-ranging volume will become the standard reference for postgraduates, academics and practitioners in the fields of evolutionary economics, complexity economics and the economics of innovation.
Routledge International Handbook Of Complexity Economics
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Author : Ping Chen
language : en
Publisher: Taylor & Francis
Release Date : 2024-11-29
Routledge International Handbook Of Complexity Economics written by Ping Chen and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-11-29 with Business & Economics categories.
The Routledge International Handbook of Complexity Economics covers the historical developments and early concerns of complexity theorists and brings them into engagement with the world today. In this volume, a distinguished group of international scholars explore the state of the art of complexity economics, and how it may deliver new and relevant insights to the challenges of the 21st century. Complexity science started in 1899 when Henri Poincaré described the three-body problem. The first approaches in economics emerged somewhat later, in the 1980s, driven by the Brussels-Austin school. Since then, complexity economics has gone through numerous developments: departing from linear simplifications, applying physical algorithms, to evolutionary economics and big data. This book covers the basic principles and methods, and offers an overview of the various domains—ranging from diverse fields of productivity studies, agricultural economics, to monetary economics—as well as the current challenges such as climate change, epidemics and economic inequality where complexity economics can provide insight. It closes with a review of complexity political economy and policy. Offering a vibrant alternative to orthodox economics, this handbook is a crucial resource for advanced students, researchers and economists across the disciplines of heterodox economics, economic theory and econophysics.
The Microeconomics Of Complex Economies
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Author : Wolfram Elsner
language : en
Publisher: Academic Press
Release Date : 2014-04-15
The Microeconomics Of Complex Economies written by Wolfram Elsner and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-04-15 with Business & Economics categories.
The Microeconomics of Complex Economies uses game theory, modeling approaches, formal techniques, and computer simulations to teach useful, accessible approaches to real modern economies. It covers topics of information and innovation, including national and regional systems of innovation; clustered and networked firms; and open-source/open-innovation production and use. Its final chapter on policy perspectives and decisions confirms the value of the toolset. Written so chapters can be used independently, the book includes an introduction to computer simulation and pedagogical supplements. Its formal, accessible treatment of complexity goes beyond the scopes of neoclassical and mainstream economics. The highly interdependent economy of the 21st century demands a reconsideration of economic theories. - Describes the usefulness of complex heterodox economics - Emphasizes divergences and convergences with neoclassical economic theories and perspectives - Fits easily into courses on intermediate microeconomics, industrial organization, and games through self-contained chapters
The Evolution Of Economic And Innovation Systems
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Author : Andreas Pyka
language : en
Publisher: Springer
Release Date : 2015-03-03
The Evolution Of Economic And Innovation Systems written by Andreas Pyka and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-03 with Business & Economics categories.
This book is at the cutting edge of the ongoing ‘neo-Schumpeterian’ research program that investigates how economic growth and its fluctuation can be understood as the outcome of a historical process of economic evolution. Much of modern evolutionary economics has relied upon biological analogy, especially about natural selection. Although this is valid and useful, evolutionary economists have, increasingly, begun to build their analytical representations of economic evolution on understandings derived from complex systems science. In this book, the fact that economic systems are, necessarily, complex adaptive systems is explored, both theoretically and empirically, in a range of contexts. Throughout, there is a primary focus upon the interconnected processes of innovation and entrepreneurship, which are the ultimate sources of all economic growth. Twenty two chapters are provided by renowned experts in the related fields of evolutionary economics and the economics of innovation.
The Origin Of Wealth
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Author : Eric D. Beinhocker
language : en
Publisher: Harvard Business Press
Release Date : 2006
The Origin Of Wealth written by Eric D. Beinhocker and has been published by Harvard Business Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.
Beinhocker has written this work in order to introduce a broad audience to what he believes is a revolutionary new paradigm in economics and its implications for our understanding of the creation of wealth. He describes how the growing field of complexity theory allows for evolutionary understanding of wealth creation, in which business designs co-evolve with the evolution of technologies and organizational innovations. In addition to giving his audience a tour of this field of complexity economics, he discusses its implications for real-world issues of business.
Elgar Encyclopedia On The Economics Of Knowledge And Innovation
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Author : Antonelli, Cristiano
language : en
Publisher: Edward Elgar Publishing
Release Date : 2022-10-14
Elgar Encyclopedia On The Economics Of Knowledge And Innovation written by Antonelli, Cristiano and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-10-14 with Business & Economics categories.
A landmark reference work in the field, this Elgar Encyclopedia presents over 60 entries from scholars that have shaped the making of the economics of innovation as a distinct and specialised field of investigation within the broad range of economic disciplines. This will be a critical read for economics scholars, particularly those focusing on knowledge and innovation as it offers an understanding of the definitions of key terms in the field, the founding tenets of the topic, and the economics of knowledge and innovation in more specific contexts.
Modern Evolutionary Economics
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Author : Richard R. Nelson
language : en
Publisher: Cambridge University Press
Release Date : 2018-05-03
Modern Evolutionary Economics written by Richard R. Nelson and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-05-03 with Business & Economics categories.
Presents the evolutionary perspective of the economy as perpetually moving, driven by innovation, and the empirical research this has guided.
Innovation Economic Development And Policy
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Author : Jan Fagerberg
language : en
Publisher: Edward Elgar Publishing
Release Date : 2018-04-27
Innovation Economic Development And Policy written by Jan Fagerberg and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-27 with Business & Economics categories.
This authoritative and enlightening book focuses on fundamental questions such as what is innovation, who is it relevant for, what are the effects, and what is the role of (innovation) policy in supporting innovation-diffusion? The first two sections present a comprehensive overview of our current knowledge on the phenomenon and analyse how this knowledge (and the scholarly community underpinning it) has evolved towards its present state. The third part explores the role of innovation for growth and development, while section four is concerned with the national innovation system and the role of (innovation) policy in influencing its dynamics and responding to the important challenges facing contemporary societies.
An Evolutionary Theory Of Economic Change
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Author : Richard R. Nelson
language : en
Publisher: Harvard University Press
Release Date : 1985-10-15
An Evolutionary Theory Of Economic Change written by Richard R. Nelson and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985-10-15 with Business & Economics categories.
This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.