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Innovation, Evolution and Complexity Theory (Hardcover, illustrated edition)
Loot Price: R2,906
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Innovation, Evolution and Complexity Theory (Hardcover, illustrated edition)
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The motivation behind this book is the desire to integrate
complexity theory into economic models of technological evolution.
By means of developing an evolutionary model of complex
technological systems, the book contributes to the
neo-Schumpetarian literature on innovation, diffusion and
technological paradigms. Recent advances in complexity theory
provide a new understanding of technological innovation and complex
problem-solving. This book offers an approach based on Stuart
Kauffman's NK-model of complex systems to better understand and
analyse search strategies that firms apply to develop new
technologies. The models deal with a range of topics including
bounded rationality, myopia, decomposability, modularity and the
emergence of technological paradigms. Empirical applications
include the evolution of early 18th century steam engine
technology, 20th century aircraft and helicopter designs and recent
innovations in personal computers. Innovation, Evolution and
Complexity Theory makes excellent use of complexity theory and
large datasets on technologies with which to complement the
analysis. The book will be of great interest to evolutionary and
innovation economists and academics as well as scholars in the
interdisciplinary field of complexity theory and industrial
organisation.
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