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Advances In Evolutionary Institutional Economics

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Advances In Evolutionary Institutional Economics

Evolutionary Mechanisms, Non-Knowledge and Strategy

Hardy Hanappi , Wolfram Elsner

Edited by Hardy Hanappi, University of Technology, Institute for Mathematical Methods in Economics, Research Group Economics, Vienna, Austria and Wolfram Elsner, Professor of Economics, iino - Institute for Institutional and Innovation Economics, Faculty of Business Studies and Economics, University of Bremen, Germany

2008 256 pp Hardback 978 1 84720 908 5
ebook isbn 978 1 78254 106 6

Hardback £78.00 on-line price £70.20


Series: Studies in Evolutionary Political Economy series

Available as an eBook for subscribing libraries on Elgaronline.

For individuals at paper price on Google ebooks and

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‘With this important collection, Hardy Hanappi and Wolfram Elsner, have brought together an outstanding volume that is likely to have its impact on the development of evolutionary economics. Expansive in its scope, the innovative contributions range from evolutionary and institutional mechanisms, dynamic market complexity as well as ontological groundwork of the rapidly emerging new evolutionary economics science. The book will be of great interest to academics, students and researchers of evolutionary and institutional economics.’
– Kurt Dopfer, University of St Gallen, Switzerland

Contributors: S. Berger, M. Binder, G. Buenstorf, P. Davidson, J.B. Davis, W. Elsner, H. Hanappi, S. Ioannides, O. Kessler, S. Kraus, U.-M. Niederle, C.H. Reschke, J.W. Stoelhorst, U. Witt

Further information

Some famous pioneers together with the most promising new practitioners in the field show within this book how they define their subject. This is an authoritative survey of important branches of evolutionary economics, containing innovative new perspectives on market dynamics and evolutionary institutional mechanisms. The authors also tackle enduring problems in the field such as profound uncertainty and the significance of knowledge in economics.

This coherent and focused book will appeal to a wide variety of scholars involved in evolutionary and institutional economics, and evolutionary theory. It will also appeal to researchers and students at advanced undergraduate and postgraduate levels.

Full table of contents


Introduction: Evolutionary Economics in the Making
Hardy Hanappi and Wolfram Elsner

1. Heuristic Twists and Ontological Creeds: A Road Map for Evolutionary Economics
Ulrich Witt

2. Generalized Darwinism from the Bottom Up: An Evolutionary View of Socio-Economic Behavior and Organization
J.W. Stoelhorst

3. Comparative Industrial Evolution and the Quest for an Evolutionary Theory of Market Dynamics
Guido Buenstorf

4. European Contributions to Evolutionary Institutional Economics: The Cases ‘Open-Systems Approach’ (OSA) and ‘Cumulative Circular Causation’ (CCC)
Sebastian Berger and Wolfram Elsner

5. Institutions as Determinants of Preference Change: A One Way Relation?
Martin Binder and Uta-Maria Niederle

6. Complex Individuals: The Individual in Non-Euclidian Space
John B. Davis

7. The Importance of Ignorance: Non-Knowledge and the Limits of Bayesianism
Oliver Kessler

8. Strong Uncertainty and How to Cope with it to Improve Action and Capacity
Paul Davidson

9. Strategy, Innovation and Entrepreneurship: An Evolutionary Learning Perspective
Carl Henning Reschke and Sascha Kraus

10. The Problem of Knowledge in Economics: Prices, Contracts and Organizations
Stavros Ioannides


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