The economics of recombinant knowledge is a promising field of investigation. New technological systems emerge when strong cores of complementary knowledge consolidate and feed an array of coherent applications and implementations. However, diminishing returns to recombination eventually emerge,...

We investigate the development of economic structures of Western European countries over the last three decades using employment data. We test for structural convergence on the aggregate level as well as specifically for manufacturing and service industries. For this we implement both...

This paper addresses Douglas North's latest book in the light of his intellectual lifework. North's original insistence upon the role of transaction costs did not require a departure from the neoclassical framework as clear-cut as the one required by North's latest emphasis on the role of...

By using game-theoretic language, this paper attempts to interpret the North's recent framework for institutional studies. Particularly relying on a foundational study of knowledge and culture in epistemic game theory, it clarifies three subtly different meanings of the beliefs used by North -...

The paper develops a Comprehensive Neo-Schumpeterian theory of development allowing synthesizing the market-driven, the state-driven and the more recent knowledge-based approaches. The theoretical part of this paper identifies (i) freedom and social welfare, (ii) knowledge and innovations, and...

As recognized since long, consumption serving to signal social status, group membership, or self-esteem is a socially contingent activity. The corresponding expenditures are motivated mainly by the symbolic value they have for transmitting the signal. However, this presupposes some form of...

This paper presents a Kaleckian growth model that incorporates endogenous technological change. The model endogenously determines the rate of capacity utilization, the rate of economic growth, income distribution, and the employment rate in addition to technological change. The paper shows that...

We investigate the influence of pre-entry experience and learning on firm survival for a sample of 121 innovative firms in the LAN switch industry. We find that experience gained prior to entry into markets, and idiosyncratic, persistent, and time independent firm attributes are important...