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Economic evolution and equilibrium : bridging the gap
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ISBN: 1280937319 9786610937318 3540686649 3540686622 Year: 2007 Publisher: Berlin ; New York : Springer,

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theory,whichformalizesa dynamiceconomicsystemasa systemofdi?erence, or di?erential, equations. There equilibria mean ‘equilibrium trajectories’ of the whole evolution that, in a certain sense, are optimal. A particularly un- tisfactory feature of this conceptualization of an equilibrium, however, is the factthattheintertemporaloptimizingapproachcompletelypredeterminesthe whole future of the economic system. This “closed loop” approach gives rise to the common reproach that economic theory is predominantly concerned with the question of ‘how the economic system ought to behave’ rather than with the question of ‘how does it behave actually’. This is the point at which the new branch of evolutionary economics has made its entrance. In contrast to growth or business cycle theory, evolutionary economics perceives the evolution of the economic system as essentially “open” to true novelties that are unforeseeable by their very nature. This view clearly makes obsolete any conception of equilibrium that resorts to the idea of a ?nal state of rest, or to the idea of an intertemporally optimizing trajectory which is prespeci?ed ab initio by a system of di?erential equations and initial con- tions. To be sure, there have been attempts to reconceptualize the notion of equilibrium from the evolutionary viewpoint. However, these proposals also appear, in one way or another, to hinge on the ideas of rest. This parti- larly applies to the branch of nonlinear dynamics and deterministic chaotic motion.

Innovations towards sustainability : conditions and consequences
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ISBN: 1281045292 9786611045296 3790816507 3790816493 Year: 2007 Publisher: New York : Physica-Verlag,

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The volume contains eight articles together with comments by twenty authors and discussants on the topic of innovations and sustainability. It provides a competently written, balanced and differentiated state-of-the-art insight into the relation between innovations and sustainability from the perspective of evolutionary economics. The scope of the contributions encompasses the technological, social, organizational, and political dimensions of the topic. Each article is discussed by a competently written commentary providing a critical evaluation and relating it to the relevant literature. Particular interest lies on the issues of steering opportunities and path formation capabilities by decentralized agents, or governmental institutions from the viewpoint of evolutionary economics.


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Economic Evolution and Equilibrium : Bridging the Gap
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ISBN: 9783540686644 Year: 2007 Publisher: Berlin, Heidelberg Springer-Verlag Berlin Heidelberg

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Innovations Towards Sustainability : Conditions and Consequences
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ISBN: 9783790816501 Year: 2007 Publisher: Heidelberg Physica-Verlag Heidelberg

Studien zur Evolutorischen Ökonomik VI : Ein Diskurs zu Analysemethoden der Evolutorischen Ökonomik
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ISBN: 3428509285 3428109287 3428809289 Year: 2002 Publisher: Berlin, [Germany] : Duncker & Humblot,

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Studien zur Evolutorischen Ökonomik V : theoretische und empirische beiträge zur analyse des wirtschaftlichen wandels
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ISBN: 3428507940 3428107942 3428807944 Year: 2002 Publisher: Berlin, [Germany] : Duncker & Humblot,

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Evolutorische Ökonomik : Konzepte, Wegbereiter und Anwendungsfelder.
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ISBN: 3658342870 Year: 2022 Publisher: Wiesbaden : Springer Fachmedien Wiesbaden GmbH,

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Economic Evolution and Equilibrium
Authors: ---
ISBN: 9783540686644 Year: 2007 Publisher: Berlin, Heidelberg Springer-Verlag Berlin Heidelberg

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Abstract

theory,whichformalizesa dynamiceconomicsystemasa systemofdi?erence, or di?erential, equations. There equilibria mean ˜equilibrium trajectories' of the whole evolution that, in a certain sense, are optimal. A particularly un- tisfactory feature of this conceptualization of an equilibrium, however, is the factthattheintertemporaloptimizingapproachcompletelypredeterminesthe whole future of the economic system. This closed loop  approach gives rise to the common reproach that economic theory is predominantly concerned with the question of ˜how the economic system ought to behave' rather than with the question of ˜how does it behave actually'. This is the point at which the new branch of evolutionary economics has made its entrance. In contrast to growth or business cycle theory, evolutionary economics perceives the evolution of the economic system as essentially open  to true novelties that are unforeseeable by their very nature. This view clearly makes obsolete any conception of equilibrium that resorts to the idea of a ?nal state of rest, or to the idea of an intertemporally optimizing trajectory which is prespeci?ed ab initio by a system of di?erential equations and initial con- tions. To be sure, there have been attempts to reconceptualize the notion of equilibrium from the evolutionary viewpoint. However, these proposals also appear, in one way or another, to hinge on the ideas of rest. This parti- larly applies to the branch of nonlinear dynamics and deterministic chaotic motion.


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Innovations Towards Sustainability
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ISBN: 9783790816501 Year: 2007 Publisher: Heidelberg Physica-Verlag Heidelberg

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The volume contains eight articles together with comments by twenty authors and discussants on the topic of innovations and sustainability. It provides a competently written, balanced and differentiated state-of-the-art insight into the relation between innovations and sustainability from the perspective of evolutionary economics. The scope of the contributions encompasses the technological, social, organizational, and political dimensions of the topic. Each article is discussed by a competently written commentary providing a critical evaluation and relating it to the relevant literature. Particular interest lies on the issues of steering opportunities and path formation capabilities by decentralized agents, or governmental institutions from the viewpoint of evolutionary economics.


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Distorted Time Preferences and Structural Change in the Energy Industry : A Theoretical and Applied Environmental-Economic Analysis
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ISBN: 9783790821833 Year: 2009 Publisher: Heidelberg Physica-Verlag HD

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