Some famous pioneers together with the most promising new practitioners in the field show within this book how they define their subject. This is an authoritative survey of important branches of evolutionary economics, containing innovative new perspectives on market dynamics and evolutionary institutional mechanisms. The authors also tackle enduring problems in the field such as profound uncertainty and the significance of knowledge in economics.
This coherent and focused book will appeal to a wide variety of scholars involved in evolutionary and institutional economics, and evolutionary theory. It will also appeal to researchers and students at advanced undergraduate and postgraduate levels.
Edited by Hardy Hanappi, University of Technology, Institute for Mathematical Methods in Economics, Research Group Economics, Vienna, Austria and Wolfram Elsner, Professor of Economics, iino - Institute for Institutional and Innovation Economics, Faculty of Business Studies and Economics, University of Bremen, Germany
Contents: Introduction: Evolutionary Economics in the Making Hardy Hanappi and Wolfram Elsner PART I: EVOLUTIONARY MECHANISMS 1. Heuristic Twists and Ontological Creeds: A Road Map for Evolutionary Economics Ulrich Witt 2. Generalized Darwinism from the Bottom Up: An Evolutionary View of Socio-Economic Behavior and Organization J.W. Stoelhorst 3. Comparative Industrial Evolution and the Quest for an Evolutionary Theory of Market Dynamics Guido Buenstorf 4. European Contributions to Evolutionary Institutional Economics: The Cases `Open-Systems Approach' (OSA) and `Cumulative Circular Causation' (CCC) Sebastian Berger and Wolfram Elsner 5. Institutions as Determinants of Preference Change: A One Way Relation? Martin Binder and Uta-Maria Niederle PART II: COMPLEXITY, NON-KNOWLEDGE AND STRATEGY 6. Complex Individuals: The Individual in Non-Euclidian Space John B. Davis 7. The Importance of Ignorance: Non-Knowledge and the Limits of Bayesianism Oliver Kessler 8. Strong Uncertainty and How to Cope with it to Improve Action and Capacity Paul Davidson 9. Strategy, Innovation and Entrepreneurship: An Evolutionary Learning Perspective Carl Henning Reschke and Sascha Kraus 10. The Problem of Knowledge in Economics: Prices, Contracts and Organizations Stavros Ioannides Index