Applied Evolutionary Economics and Complex Systems

Applied Evolutionary Economics and Complex Systems

Edited by John Foster and Werner Hölzl

This book takes up the challenge of developing an empirically based foundation for evolutionary economics built upon complex system theory. The authors argue that modern evolutionary economics is at a crossroads. At a theoretical level, modern evolutionary economics is moving away from the traditional focus of the operation of selection mechanisms and towards concepts of ‘complex adaptive systems’ and self-organisation. On an applied level, new and innovative methods of empirical research are being developed and considered. The contributors take up this challenge and examine aspects of complexity and evolution in applied contexts.

Preface

Edited by John Foster and Werner Hölzl

Subjects: economics and finance, evolutionary economics

Extract

This book has evolved from selected papers presented at the second European Meeting on Applied Evolutionary Economics (EMAEE), held at the Vienna University of Economics and Business Administration in September 2001 around the theme ‘Advancing Empirical Research Methodologies in Evolutionary Economics’. The chapters deal with various aspects of applied evolutionary economics and related policy issues. These contributions are at the frontier of the field, and selected to focus upon key areas currently under investigation. There is no attempt to cover all aspects of current research. The book reflects the fact that evolutionary economics has reached a new level of maturity as it develops coherent empirical strategies and moves beyond a narrowly construed reliance on models of competitive selection towards a more general analytical framework built upon complexity theory. The book will be useful to researchers interested in economic evolution, economic growth, economic development, innovation, industrial organization and modelling economic evolution. It will also be useful to advanced students in all of these fields. We would like to thank all those who made the conference, and therefore also this book, possible. First, we would like to thank Koen Frenken and Andreas Pyka for proposing the idea of an EMAEE conference in Vienna. Thanks are due to the Department of Economics and the interdisciplinary Research Group Growth and Employment in Europe, both at the Vienna University of Economics and Business Administration, for organizing the conference. Finally, we would like to thank the following organizations for their material support, without which this...