By Kurt Dopfer
This publication makes a speciality of the rising box of evolutionary monetary coverage, highlighting the interface among the country, markets, and the evolutionary complexity of recent economies. The individuals discover the probabilities and boundaries of governance, and supply a special platform for the development of recent evolutionary financial thought.
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Extra info for Economics, Evolution And the State: The Governance of Complexity
2. the categories used for measuring inputs and outputs and the respective way of aggregating of inputs and outputs in order to compute the TFP. Heterogeneity and evolutionary change 23 being identical among the observations. Otherwise the comparison is inadequate. To cope with the first problem, one has to look for measures which allow for homogeneous input and output categories. g. ) – one might be able to cope with this problem – at least partly. As to the aggregation functions for inputs and outputs, with respect to inputs it is just the production function that is searched for and which has a number of specific problems.
10. 11. 12. 13. 14. 15. 16. g. Cantner/Hanusch/Pyka (1998). g. Cantner/Pyka (1998a, 1998b) Cantner (2000). g. Cantner (1996). Other distinguishing features are the diﬀerent conception of uncertainty, of rationality, etc. Analyses dealing with asymmetric information are an exception to this. An obvious candidate would be this number itself. According to Saviotti (1991, p. 177) in information theory the variety of a set is just the logarithm in base 2 of the number of distinguishable elements. See Atkinson/Stiglitz (1969); a good overview is found in Antonelli (1994).
4. CONCLUSION This chapter deals with empirical analysis in evolutionary economics in general and innovation economics as a prominent application of evolutionary ideas in particular. Within the latter, heterogeneity in the sense of diﬀerent innovative activities, diﬀerent production processes employed, diﬀerent qualities or goods produced, is a major analytical element – the more so because innovative actors aim at creating heterogeneity and imitators attempt to reduce it again. This heterogeneity has an additional feature to be accounted for, the performance of the diﬀerent techniques, activities, 36 Economic evolution as open process goods, etc.
Economics, Evolution And the State: The Governance of Complexity by Kurt Dopfer