Foundations of Economic Change: A Schumpeterian View on Behaviour, Interaction and Aggregate Outcomes

Description

The book illustrates the considerable advances in modern evolutionary economics and addresses core questions of economic behaviour, interaction of heterogeneous actors in uncertain environments and the possibility of aggregating observations on a macro-economic level. It presents the foundations of economic change as the major building blocks of an economic approach that focusses on complex processes driven by endogenous innovation as well as crisis. The theoretical considerations are complemented by econometric studies to demonstrate the relevance of evolutionary-economic thinking to improve our understanding of the most challenging issues related to economic growth and development. Front Matter ....Pages i-vii Introduction: Foundations of Economic Change—Behavior, Interaction and Aggregate Outcomes (Uwe Cantner, Andreas Pyka)....Pages 1-6 Front Matter ....Pages 7-7 Foundations of Economic Change: An Extended Schumpeterian Approach (Uwe Cantner)....Pages 9-49 Behavior and Cognition of Economic Actors in Evolutionary Economics (Richard R. Nelson)....Pages 51-67 Upward and Downward Complementarity: The Meso Core of Evolutionary Growth Theory (Kurt Dopfer, Jason Potts, Andreas Pyka)....Pages 69-80 Front Matter ....Pages 81-81 Global Dynamics, Capabilities and the Crisis (Jan Fagerberg, Martin Srholec)....Pages 83-106 Convergence or Divergence: A Nonparametric Analysis on China’s Regional Disparity (Xiang Deng, Jianping Li, Jing Song)....Pages 107-122 Micro to Macro Evolutionary Modeling: On the Economics of Self Organization of Dynamic Markets by Ignorant Actors (Gunnar Eliasson)....Pages 123-185 Firms Navigating Through Innovation Spaces: A Conceptualization of How Firms Search and Perceive Technological, Market and Productive Opportunities Globally (Maureen McKelvey)....Pages 187-206 A Proposal for a ‘National Innovation System Plus Subjective Well-Being’ Approach and an Evolutionary Systemic Normative Theory of Innovation (Hans-Jürgen Engelbrecht)....Pages 207-231 Front Matter ....Pages 233-233 Confounded, Augmented and Constrained Replicator Dynamics (Jacob Rubæk Holm, Esben Sloth Andersen, J. Stanley Metcalfe)....Pages 235-255 The Roots of Growth: Entrepreneurship, Innovation and the Capitalist Firm (Michael Joffe)....Pages 257-267 The Journey of Innovation (Jorge Niosi)....Pages 269-282 Schumpeterian Incumbents and Industry Evolution (Guido Buenstorf)....Pages 283-297 Incremental by Design? On the Role of Incumbents in Technology Niches (Daniel S. Hain, Roman Jurowetzki)....Pages 299-332 Entrepreneurs’ Over-optimism During the Early Life Course of the Firm (Zornitza Kambourova, Erik Stam)....Pages 333-353 Front Matter ....Pages 355-355 Knowledge Spillovers Through FDI and Trade: The Moderating Role of Quality-Adjusted Human Capital (Muhammad Ali, Uwe Cantner, Ipsita Roy)....Pages 357-391 Export, R&D and New Products: A Model and a Test on European Industries (Dario Guarascio, Mario Pianta, Francesco Bogliacino)....Pages 393-432 Using Simulation Experiments to Test Historical Explanations: The Development of the German Dye Industry 1857–1913 (Thomas Brenner, Johann Peter Murmann)....Pages 433-459 The Marshallian and Schumpeterian Microfoundations of Evolutionary Complexity: An Agent Based Simulation Model (Cristiano Antonelli, Gianluigi Ferraris)....Pages 461-500 Understanding the Complex Nature of Innovation Network Evolution (Muhamed Kudic, Jutta Guenther)....Pages 501-524 Why Does Sports Equipment Sometimes Become Too Sophisticated and Expensive? A Case Study of the Overshooting Hypothesis in Board Sports (Stuart Thomas, Jason Potts)....Pages 525-538