Wharton emeritus professor Sid Winter discusses how innovative activity affects industry evolution, as described in his new book “Innovation and the Evolution of Industries.”…Read More
Wharton emeritus professor Sid Winter discusses how innovative activity affects industry evolution, as described in his new book “Innovation and the Evolution of Industries.”…Read More
It is a familiar observation that entrepreneurship is not easily accommodated within the framework of neoclassical economic theory. Drawing inspiration from an ancient critique of neoclassicism by Veblen (Q J Econ 12(4):373–397, 1898), this paper attributes the difficulty to the tension between normative accounts of decision making (as in mainstream theory) and ideas of causation that are standard in the sciences.…Read More
This essay contemplates the possible futures of evolutionary economics in terms of two contrasting images. In the first, the primary research emphasis of the future will continue to be on the topics that have interested evolutionary economists in the past, such as technological change, business behavior, and the role of institutions.…Read More
This paper aims to further the alignment among different theoretical approaches and future scholarship on the complex themes related to the micro-foundational processes characterizing the emergence and development of organizational routines and capabilities. It has been constructed with a typical Hegelian structure represented by a thesis, an antithesis and an attempt of a synthesis, each presented by different scholars.…Read More
In a statement that is relatively famous, considering its position at the back of an old book, Alfred Marshall remarked on the ‘the manifold influences of the element of time’. He noted the obstacles those influences pose to mathematical analysis (or, he said, any analysis) of a complex, ‘real life’ problem – and the tendencies to over-simplification that often result.…Read More