Foundations of Economic Change: An Extended Schumpeterian Approach

Cantner, Uwe

doi:10.1007/978-3-319-62009-1_2

Cited by 9 publications

(5 citation statements)

References 98 publications

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“…Here we focus upon one type of entrepreneurship, KIE, where a Schumpeterian view of the entrepreneur is one of the theoretical building blocks. In modern literature, this Schumpeterian perspective has lead to the more general observation about the importance of the entrepreneur in enacting change and stimulating economic growth (Foster and Metcalf 2012;Metcalfe et al 2006;Cantner 2016). More generically, the Schumpeterian entrepreneur creates innovative opportunities, as opposed to the Kirzeirian entrepreneur which simply discovers opportunities.…”

Section: What Is the Problem Of Governance Of Knowledge-intensive Innmentioning

confidence: 99%

“…The two propositions suggest that these two pathways could be further developed theoretically, relating to literature on different types of evolutionary selection processes. Hence, future research should return to fundamental issues about the role of routines in helping or hindering the ongoing emergent properties of the economy (Cantner 2016;Metcalfe et al 2006), and specifically the link between knowledge-intensive innovative entrepreneurship and economic growth.…”

Section: Future Research Agendamentioning

confidence: 99%

“…This literature has identified key characteristics in patterns of routines: specifically, routines represent patterns of behaviour, which can be seen as collective behaviour involving multiple actors, and where activities which become routines can be analyzed as demonstrating cognition as well as habits (Becker 2004;Pentland et al 2010;Lazaric 2011;Winter 2013). This stream of literature includes some interesting contributions in relation to innovation and entrepreneurship (Cantner 2016;Cantner et al 2016;Niosi 2018).…”

Section: Introductionmentioning

confidence: 99%

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Conceptualizing evolutionary governance routines: governance at the interface of science and technology with knowledge-intensive innovative entrepreneurship

2019

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The two main purposes of this article are: 1) To propose a conceptual model for governance at the interface of science and technology with knowledgeintensive innovative entrepreneurship and 2) To develop propositions and propose a future research agenda on evolutionary governance routines. Our proposed conceptualization of governance depends upon an understanding of how different ways of developing rules and norms to interact and make decisions collectively are created and maintained, including two sub-processes. One process is to develop advanced knowledge and the second process is where entrepreneurs transform that knowledge developed as the public good and privatize it through value creation. We propose that a main task for this type of entrepreneur is to manage their engagement in the overall governance in such a way as to be perceived by others as continuing to contribute to the collective action problem. The article provides definitions and propositions in relation to the conceptualization, as well as interesting trajectories for future research.

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Section: What Is the Problem Of Governance Of Knowledge-intensive Innmentioning

confidence: 99%

Section: Future Research Agendamentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Conceptualizing evolutionary governance routines: governance at the interface of science and technology with knowledge-intensive innovative entrepreneurship

2019

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“…Our proposed allocation mechanism makes use of a biological metaphor, the Darwinian 'survival of the fittest' principle, now in the form of a 'replicator dynamics' approach (Fisher 1930). The fittest or most productive firms grow to dominate the market, while less productive firms fall victim to competition and are driven out (Cantner 2017). In our formal description, we remain agnostic about the precise nature of the mechanism translating productivity increases into growing market shares to allow for a reasonably general application.…”

Section: An Agent-based Model Of Learning and Selectionmentioning

confidence: 99%

Equal chances, unequal outcomes? Network-based evolutionary learning and the industrial dynamics of superstar firms

Schulz

Mayerhoffer

2021

J Bus Econ

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With the advent of platform economies and the increasing availability of online price comparisons, many empirical markets now select on relative rather than absolute performance. This feature might give rise to the ‘winner takes all/most’ phenomenon, where tiny initial productivity differences amount to large differences in market shares. We study the effect of heterogeneous initial productivities arising from locally segregated markets on aggregate outcomes, e.g., regarding revenue distributions. Several of those firm-level characteristics follow distributional regularities or ‘scaling laws’ (Brock in Ind Corp Change 8(3):409–446, 1999). Among the most prominent are Zipf’s law describing the largest firms‘ extremely concentrated size distribution and the robustly fat-tailed nature of firm size growth rates, indicating a high frequency of extreme growth events. Dosi et al. (Ind Corp Change 26(2):187–210, 2017b) recently proposed a model of evolutionary learning that can simultaneously explain many of these regularities. We propose a parsimonious extension to their model to examine the effect for deviations in market structure from global competition, implicitly assumed in Dosi et al. (2017b). This extension makes it possible to disentangle the effects of two modes of competition: the global competition for sales and the localised competition for market power, giving rise to industry-specific entry productivity. We find that the empirically well-established combination of ‘superstar firms’ and Zipf tail is consistent only with a knife-edge scenario in the neighbourhood of most intensive local competition. Our model also contests the conventional wisdom derived from a general equilibrium setting that maximum competition leads to minimum concentration of revenue (Silvestre in J Econ Lit 31(1):105–141, 1993). We find that most intensive local competition leads to the highest concentration, whilst the lowest concentration appears for a mild degree of (local) oligopoly. Paradoxically, a level playing field in initial conditions might induce extreme concentration in market outcomes.

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Section: An Agent-based Model Of Learning and Selectionmentioning

confidence: 99%

One Model, Multiple Stories? Using Agent-Based Models to Unveil Structural Similarities in a Complex World

Mayerhoffer¹

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The doctoral thesis argues that such transfer of the structure of an Agent-Based-Model from one real world application to another is indeed possible by means of story adaptation to the new application case. If successful, the transfer benefits research in two ways: (I) It improves efficiency for modellers and readers alike; (II) it can reveal structural similarity between these cases and help to assess the extent of this structural similarity. Therefore, structure transfer is no mere auxiliary to Agent-Based Modelling but an independent scientific endeavour. However, such endeavour may also fail or mislead in the sense that an identified structural similarity between two modelled situations does not exist. Hence, model structure transfer requires a careful execution.

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Foundations of Economic Change: An Extended Schumpeterian Approach

Cited by 9 publications

References 98 publications

Conceptualizing evolutionary governance routines: governance at the interface of science and technology with knowledge-intensive innovative entrepreneurship

Conceptualizing evolutionary governance routines: governance at the interface of science and technology with knowledge-intensive innovative entrepreneurship

Equal chances, unequal outcomes? Network-based evolutionary learning and the industrial dynamics of superstar firms

One Model, Multiple Stories? Using Agent-Based Models to Unveil Structural Similarities in a Complex World

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