New knowledge with potential commercial value is created, replicated, and transferred in a distributed manner. The highly systemic nature of knowledge production and the need for any knowledge to be individually acquired and expressed in order to produce an effect, jointly constrain the dynamics...

New knowledge with potential commercial value is created, replicated, and transferred in a distributed manner. The highly systemic nature of knowledge production and the need for any knowledge to be individually acquired and expressed in order to produce an effect, jointly constrain the dynamics...

The functionality of organizational routines, i.e. the factual value for accomplishing theirpurposes, is an important constraint on the capabilities an organization can bring to bear on itsoperations. Often falling short of its potential, the actual make-up of organizational routinesinvites...

Strong growth in disposable income has driven, and is still driving, consumption to unprecedented,but not sustainable levels. To explain the dynamic interplay of needs, need satisfaction, andinnovation underlying that growth a behavioral theory of consumption is suggested and discussedwith...

It has been suggested that, by generalizing Darwinian principles, a common foundation can bederived for all scientific disciplines dealing with evolutionary processes, especially forevolutionary economics. In this paper we show, however, that the principles of such a“Generalized Darwinism”...

Normative reasoning in welfare economics and social contract theory usually presumesinvariable, context-independent individual preferences. Following recent work particularlyin behavioral economics this assumption is difficult to defend. This paper therefore exploreswhat can be said about...

The emergence of novelty is a driving agent for economic change. New technologies, new products and services, new institutional arrangements, to mention a few examples, are the backbone of development and growth. Important though it is, the emergence of novelty is not well understood. What seems...

In an evolutionary approach to macroeconomics, the market disequilibrium dynamics resulting from structural change need to be properly represented at the aggregate level. As suggested by the late F.A.Hayek, a suitable equilibrium concept required to this end as a frame of reference, is that of a...

Evolutionary economics is a paradigm for explaining the transformation of the economy. To achieve its goal, it needs being founded on a proper theory of economic behavior. The paper discusses these foundations. It is argued that the historical malleability of economic behavior is based on the...

This article reviews the way of thinking about economic problems and the research agenda associated with the evolutionary approach to economics. This approach generally focuses on the processes that transform the economy from within and on their consequences for firms and industries, production,...