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The New Evolutionary Microeconomics – Complexity, Competence and Adaptive Behaviour

The New Evolutionary Microeconomics
Jason Potts
Edward Elgar, 2000
Level: advanced
Perspective: Evolutionary Economics, Institutionalist Economics
Topic: Microeconomics & Markets
page count: 239 pages
ISBN: 9781840648959


Potts (economics, University of Queensland) proposes evolutionary microeconomics as a synthesis of the collective schools of heterodox economic thought with complex systems theory and graph theory. He charts a research program for evolutionary economics that encompasses the theory of dynamic efficiency and emergence in markets, a computational model of the learning and interacting agent, a competence-based theory of the firm and the household, and an agent- based foundation to macroeconomics. He argues for a radical refocus of microeconomic research toward the evolutionary nature of institutions, preferences, technology, and knowledge. Of interest to those in evolutionary and computational economics, managerial economics, business studies, and marketing. Annotation copyrighted by Book News Inc., Portland, OR


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