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Books > Business & Economics > Business & management > Ownership & organization of enterprises
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Endogenous Innovation - The Economics of an Emergent System Property (Hardcover)
Loot Price: R2,837
Discovery Miles 28 370
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Endogenous Innovation - The Economics of an Emergent System Property (Hardcover)
Expected to ship within 12 - 17 working days
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Tackling innovation as an endogenous process, this groundbreaking
new book builds upon the Schumpeterian creative response by
implementing the tools of complexity economics. This reappraisal of
the Schumpeterian legacy allows the author to apply complexity
economics to endogenous knowledge externalities and consequently
move away from the Darwinistic and biological accounts of
evolutionary economics. This approach proves that firms, in
out-of-equilibrium conditions, try and react by means of
introducing innovations. The success of this reaction is contingent
upon access conditions to knowledge externalities. Cristiano
Antonelli demonstrates that the consequent introduction of
innovations may, in turn, knock firms further out of equilibrium
and cause positive changes in the system's properties that feed the
introduction of further innovations. In addition, this can also
engender the decline of the system's properties and push firms to
adaptive response that drive the system towards an equilibrium
without growth and change. This path dependent loop of interactions
between the system properties and the individual actions of firms
is central to this book. Paving the way to a new phase of
evolutionary economics, the book's prime readership will be
students and scholars who study and teach evolutionary economics,
the economics of innovation and/or the economics of growth.
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