THE EVOLUTIONARY COMPLEXITY OF ENDOGENOUS INNOVATION
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- Author: CRISTIANO ANTONELLI
- ISBN: 9781788113786
- Availability: In Stock
Buy THE EVOLUTIONARY COMPLEXITY OF ENDOGENOUS INNOVATION | Management Books, New Arrivals
The notion of endogenous innovation as the outcome of the
creative response of firms to out-of-equilibrium conditions is the cornerstone
of the new evolutionary complexity. In this book, Cristiano Antonelli
elaborates, applies and tests, with his colleagues, the Schumpeterian framework
established in the author’s previous work Endogenous Innovation: The Economics
of an Emergent System Property.
The author carefully explores the role of the
reactivity of firms to out-of-equilibrium conditions with a unique mix of
econometric tools and simulation techniques. He examines the central role of
knowledge externalities in shaping the likelihood of creative responses, and
hence the generation of new knowledge and the introduction of innovations, as
an alternative to adaptive responses that lead the system to equilibrium with
no growth. In so doing, he confirms that innovation is the outcome of the
interaction between individual decision-making and the endogenous and
path-dependent properties of the system into which firms are embedded.