Evolution in Markets and Institutions [Paperback]

Evolutionary economics is the most challenging unorthodoxapproach to economic theory that has been developed in thelast decades. The present volume offers a survey as well asa carefully selected sample of important new insights from abroad range of topics in economics:- the dynamics of institutional change- aggregate employment effects of diffusing innovations- institutional regimes of long run growth- indeterminaciesresulting expectation formation in theeconomy- the synergetic approach and its application to marketmorphology.The volume documentsa variety of modeling tools inevolutionary economics and offers a series ofstimulatinghypotheses and research results. Its reading is a `must' forall scholars with an interest in economic change.Evolutionary economics is the most challenging unorthodoxapproach to economic theory that has been developed in thelast decades. The present volume offers a survey as well asa carefully selected sample of important new insights from abroad range of topics in economics:- the dynamics of institutional change- aggregate employment effects of diffusing innovations- institutional regimes of long run growth- indeterminaciesresulting expectation formation in theeconomy- the synergetic approach and its application to marketmorphology.The volume documentsa variety of modeling tools inevolutionary economics and offers a series ofstimulatinghypotheses and research results. Its reading is a `must' forall scholars with an interest in economic change.Evolutionary economics: Some principles.- How do conventions evolve?.- Innovation diffusion, employment and wage policy.- Land use systems and property rights. Evolutionary versus new institutional economics.- The genesis of expectations and of sunspot equilibria.- The master equation approach to nonlinear economics.- Appendix: Programme of the Joint Sessions.Springer Book Archives