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9780415128131

Economic Evolution: An Inquiry into the Foundations of the New Institutional Economics

by ;
  • ISBN13:

    9780415128131

  • ISBN10:

    0415128137

  • Format: Nonspecific Binding
  • Copyright: 1995-11-21
  • Publisher: Routledge

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Summary

The new institutional economics offers one of the most exciting research agendas in economics today. Economic Evolution questions if it can explain the processes of economic change. It explores three of the main approaches within the new institutional economics: the new theory of the firm, Nelson and Winter's evolutionary economics and game theoretical accounts of sponateous evolution. Close analysis reveals that the approaches differ on such fundamental issues as the meaning of terms like "institution" and "evolution." Economic Evolution also uncovers two evolutionary mechanisms that govern processes of economic change in all of these approaches.

Table of Contents

Preface
Introductionp. 1
Selection Arguments Pro and Contra the Neoclassical Theory of the Firmp. 13
Breaking Open the Black Box: The New Theory of the Firmp. 41
Modelling the Selection Argument: Nelson and Winter's Evolutionary Theoryp. 65
Functional Explanationp. 89
Two Evolutionary Mechanismsp. 107
Altruism and Units of Selectionp. 133
The Cultural Evolution of Behavioural Dispositionsp. 160
A Realist Reconstruction of Economic Evolutionary Theoryp. 192
Notesp. 217
Bibliographyp. 227
Indexp. 238
Table of Contents provided by Blackwell. All Rights Reserved.

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