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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.
Equilibrium (Economics) --- Evolutionary economics. --- Economics --- DGE (Economics) --- Disequilibrium (Economics) --- DSGE (Economics) --- Dynamic stochastic general equilibrium (Economics) --- Economic equilibrium --- General equilibrium (Economics) --- Partial equilibrium (Economics) --- SDGE (Economic theory) --- Statics and dynamics (Social sciences) --- Microeconomics. --- Economic theory. --- Mathematics. --- Economic Theory/Quantitative Economics/Mathematical Methods. --- Game Theory, Economics, Social and Behav. Sciences. --- Math --- Science --- Economic theory --- Political economy --- Social sciences --- Economic man --- Price theory --- Game theory. --- Games, Theory of --- Theory of games --- Mathematical models --- Mathematics
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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.
Sustainable development. --- Green technology. --- Environmental policy --- Technological innovations --- Economic aspects. --- Environmental aspects. --- Economic policy. --- Economic growth. --- Environmental economics. --- Economics. --- Environmental Economics. --- Economic Policy. --- Economic Growth. --- Economics --- Environmental quality --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Economic nationalism --- Economic planning --- National planning --- State planning --- Planning --- National security --- Social policy --- Environmental aspects --- Economic aspects --- Earth-friendly technology --- Environmental technology --- Technology --- Development, Sustainable --- Ecologically sustainable development --- Economic development, Sustainable --- Economic sustainability --- ESD (Ecologically sustainable development) --- Smart growth --- Sustainable development --- Sustainable economic development --- Economic development
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Microeconomics --- Operational research. Game theory --- micro-economie --- speltheorie
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Economic growth --- Economic policy and planning (general) --- Economics --- Environmental protection. Environmental technology --- duurzaamheid --- economie --- economische politiek --- economische groei --- milieuzorg --- duurzame ontwikkeling
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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.
Microeconomics --- Operational research. Game theory --- micro-economie --- speltheorie
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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.
Economic growth --- Economic policy and planning (general) --- Economics --- Environmental protection. Environmental technology --- duurzaamheid --- economie --- economische politiek --- economische groei --- milieuzorg --- duurzame ontwikkeling
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Economic policy and planning (general) --- Economics --- Meteorology. Climatology --- Environmental protection. Environmental technology --- technologiebeleid --- economie --- milieuzorg --- klimaatverandering
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