Edited by Cristiano Antonelli
Chapter 1: The Economic Complexity of Technological Change: Knowledge Interaction and Path Dependence
* Cristiano Antonelli 1. INTRODUCTION Complexity is emerging as a new unifying theory to understand endogenous change and transformation across a variety of disciplines, ranging from mathematics and physics to biology. Complexity thinking is primarily a systemic and dynamic approach according to which the outcome of the behavior of each agent and of the system into which each agent is embedded, is intrinsically dynamic and can only be understood as the result of multiple interactions among heterogeneous agents embedded in evolving structures and between the micro and macro levels. Different attempts have been made to apply complexity to economics, ranging from computational complexity to econophysics, connectivity complexity and bounded rationality complexity. Too often these attempts have missed the basic feature of economics that consists in the analysis of the role of the intentional, rent-seeking conduct in the interpretation of the behavior of agents. Agents are portrayed as automata that are not able to implement the intentional pursuit of their interest (Rosser, 1999, 2004). This Handbook presents a systematic attempt to show how, building upon the achievements of complexity theory, a substantial contribution to the economics of innovation can be implemented. At the same time it shows that an economic approach to complexity can be elaborated and fruitfully implemented. This introductory chapter articulates the view that innovation is the emergent property of a system characterized by organized complexity. It implements an approach that enables the provision of basic and simple economic foundations at the same time to analysing the outcome of the...
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.