New Developments in Evolutionary Innovation
Novelty Creation in a Serendipitous Economy
Gino Cattani editor Mariano Mastrogiorgio editor
Format:Hardback
Publisher:Oxford University Press
Published:13th May '21
Currently unavailable, and unfortunately no date known when it will be back
The growth of evolutionary thinking has had a profound impact on economic theory and related fields such as strategy and technological innovation. An important paradigm that underlies the evolutionary theory of innovation is neo-Darwinian evolution. According to this paradigm, evolution is gradualist and based on the mechanisms of variation, selection, and retention. Since the 1970s, theoretical advancements in evolutionary biology have recognised the central role of punctuated equilibrium, speciation, and exaptation. However, despite their significant influence in evolutionary biology, these advancements have been reflected only partially in evolutionary approaches to economics, strategy, and innovation. The aim of this book is to review these advancements and explore their implications, with a particular emphasis on the role of serendipity and unprestateability in innovation and novelty creation.
This is a very important book which gives flesh and structure to the notion that evolution is a genuinely uncertain and serendipitous process, both in biology and in the socio-economic domain. It should also be a must for all scholars tempted to use ideas like 'rational technological expectations' or 'selection-driven optimization': read this book and think twice! * Giovanni Dosi, Sant'Anna School of Advanced Studies *
Cattani and Mastrogiorgio and their collaborators offer a valuable contribution to the evolutionary perspective on technological change. Continuity and change are key properties of an evolutionary dynamic. By incorporating the key evolutionary process of exaptation, they offer important insights regarding novel technologies that help reconcile this duality of continuity and change. A real strength of the collection is that it spans theory, modeling, and empirical contributions around these important ideas. * Daniel Levinthal, Wharton School, University of Pennsylvania *
This is an important and much needed book that enriches the evolutionary approach to technological change by exploring in a clear, rigorous, and original way new ideas, such as the role of exaptation and serendipity in innovation and novelty creation. * Luigi Marengo, LUISS University *
ISBN: 9780198837091
Dimensions: 240mm x 164mm x 24mm
Weight: 540g
256 pages