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Evolutionary economics is a school of economic thought that is inspired by evolutionary biology.Although not defined by a strict set of principles and uniting various approaches, it treats economic development as a process rather than an equilibrium and emphasizes change (qualitative, organisational, and structural), innovation, complex interdependencies, self-evolving systems, and limited ...
Jun 25, 2021 · Evolutionary economics seeks to explain real-world phenomena as the outcome of a process of continuous change. Its concepts often have analogues in the field of biological evolution, but ...
Nov 30, 2020 · The Darwinian theory of evolution has arguably become an important building block for experimental and theoretical economists. According to Burnham (J Econ Behav Org 90:S113–S127, 2013), it is possible to formulate novel hypotheses and predictions about human preferences, on the basis of what patterns of behavior would have been adaptive in the ancestral environment. After clarifying two ...
- Vaios Koliofotis
- 55789vko@eur.nl
- 2021
Whereas many mainstream economists tend to ask “how” questions, evolutionary economists tend to ask “why” questions. For example, one mainstream approach to a situation of scarcity of resources in an economy would be to determine the most efficient way of using those resources, often relying on rigorous mathematical models. Evolutionary ...
Jan 11, 2017 · This dynamic approach requires a revival of economic history. By reporting on, and inviting debate over, what is happening and its implications, the adoption of an evolutionary approach should help restore the moral content of economics and the surrounding social sciences. Such a change in approach would be a paradigm shift, and will take time.
- Robert Neild
- 2017
Apr 3, 2019 · The main purpose of the present volume by Richard Nelson, Giovanni Dosi and other prominent names in the evolutionary economics community is to increase the interest for evolutionary economics among economists of other persuasions, primarily by highlighting what evolutionary economics has to offer in terms of an improved understanding of ...
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Advancing Evolutionary Economics: Methodology, Theory, and Normative Judgement. This volume presents important extensions of the methodological, theoretical, and normative underpinnings of an evolutionary approach to economics. Some of the chapters take a bird’s-eye view of the evolutionary process in the economy.
