The Evolutionary Complexity of Endogenous Innovation PDF Download

Author: Cristiano Antonelli
Publisher: Edward Elgar Publishing
ISBN: 1788113799
Category : Electronic books
Languages : en
Pages : 243

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Book Description
The notion of endogenous innovation as the outcome of the creative response of firms to out-of-equilibrium conditions is the cornerstone of the new evolutionary complexity. This book elaborates and applies the theoretical framework established in the author’s previous work Endogenous Innovation: The Economics of an Emergent System Property. This volume carefully explores the role of the reactivity of firms to out-of-equilibrium conditions. It also examines the quality of knowledge governance mechanisms in assessing the levels of externalities that define the likelihood of creative responses, as an alternative to adaptive responses.

Author: Cristiano Antonelli
Publisher: Edward Elgar Publishing
ISBN: 178254514X
Category : Business & Economics
Languages : en
Pages : 304

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Book Description
This ground-breaking new book builds upon the Schumpeterian creative response. The author shows that firms, in out-of-equilibrium conditions, try and react by means of introducing innovations. The success of their reaction is contingent upon their access conditions to knowledge, which are shaped by the system in which they operate. The emergence of new innovations can, in turn, knock firms further out-of-equilibrium and cause changes in the system properties that govern their access to external knowledge. This path dependent loop of interactions between the system properties and the individual actions of firms, accounts for endogenous innovation and the dynamics of the system.

Author: Richard R. Nelson
Publisher: Harvard University Press
ISBN: 9780674041431
Category : Business & Economics
Languages : en
Pages : 456

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Book Description
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.

Author: Cristiano Antonelli
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages :

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Author: Pier Paolo Saviotti
Publisher: Taylor & Francis
ISBN: 1000837696
Category : Business & Economics
Languages : en
Pages : 297

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Book Description
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.

Author: Shuanping Dai
Publisher: Routledge
ISBN: 1351019724
Category : Social Science
Languages : en
Pages : 295

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Book Description
The transition from a catching-up style economy to an innovation-driven economy poses a major challenge for China. This book examines the major issues at stake, outlines developments in crucial business fields and industries, and discusses the roles of top-down politics and bottom-up entrepreneurship. It focuses in particular on the institutional foundations of innovation, arguing that successful innovation relies on the favourable interplay of business, politics, and society, and that comprehensive institutional and organizational changes will be required in China in order for innovation to succeed. Overall, the book assesses how far China will be able to depart from the Western paradigm of successful innovation regimes and create its own innovation system with Chinese characteristics.

Author: Akansel, Ilkben
Publisher: IGI Global
ISBN: 1799810399
Category : Business & Economics
Languages : en
Pages : 338

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Book Description
In today’s data-driven world, certain infrastructures of society have begun to lose their anthropological traits. Economics, specifically, has started placing importance on quantity over quality, excluding its philosophical perspective. Scientists and associates of economics need to be reacquainted with the psychological aspect of commerce and its significance to humanity. Examining the Relationship Between Economics and Philosophy is an essential reference source that discusses the psychological view of economics as well as its philosophical background. Featuring research on topics such as cognitive science, neoliberalism, and neuroeconomics, this book is ideally designed for scientists, economists, managers, executives, academicians, researchers, and students seeking coverage on the philosophy of the financial system and its impact on competitive markets.

Author: Cristiano Antonelli
Publisher: Springer
ISBN: 3030055086
Category : Business & Economics
Languages : en
Pages : 197

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Book Description
‘This important new book provides a penetrating, novel analysis of the key role played by knowledge when viewed through the lens of Schumpeterian economics. It is loaded with important insights that highlight the primacy of knowledge and innovation to unleash economic growth.’ —David B. Audretsch, Indiana University Bloomington, USA This book combines the tools elaborated by the economics of knowledge and the legacy of Joseph Schumpeter to explore the emergence of the new knowledge economy and the shift away from the manufacturing industries. Antonelli analyzes the characteristics of the innovation process as a creative response based upon the accumulation, generation and exploitation of knowledge. He highlights the new structure of advanced economies, where knowledge is at the same time the prime input and output. With special attention to the limits of the new knowledge growth regime, raised by the role of finance, income distribution and intellectual property rights, this Palgrave Pivot recommends appropriate economic policies based upon an Open Technology approach.

Author: Koen Frenken
Publisher: Edward Elgar Publishing
ISBN: 9781781956410
Category : Business & Economics
Languages : en
Pages : 200

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Book Description
The motivation behind this book is the desire to integrate complexity theory into economic models of technological evolution. By means of developing an evolutionary model of complex technological systems, the book contributes to the neo-Schumpetarian literature on innovation, diffusion and technological paradigms.

Author: Girol Karacaoglu
Publisher: Springer
ISBN: 9811361045
Category : Political Science
Languages : en
Pages : 257

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Book Description
The distinctive contribution of this book is the formulation of an integrated social, environmental, and economic framework for public policy. This contribution is realised through investigations and conclusions in the following four domains: a formal stylised model that provides a platform for an integrated approach to public policy; a policy-informing simulation model that can be used to operationalise the public policy insights proposed in the stylised model; the implications of introducing fundamental (or radical) uncertainty and complexity into the policy framework; and the use of viability theory to demonstrate how one can think of and implement public policy in an uncertain and complex world, when the focus of policy needs to shift to building resilience to systemic risks. The book’s stylised model is constructed by weaving together threads from the wellbeing, human needs, complex systems, sustainable development, endogenous economic growth, directed technical change, and credit-based-money literatures. Throughout, the perspective is that of a policy adviser to a "wellbeing state", as distinct from a "welfare state". The key linkages or relationships in the model are supported by empirical evidence that draws on the wider literature in related fields.