Evolution in Markets and Institutions

Evolutionary economics is the most challenging unorthodox
approach to economic theory that has been developed in the
last decades. The present volume offers a survey as well as
a carefully selected sample of important new insights from a
broad range of topics in economics:
- the dynamics of institutional change
- aggregate employment effects of diffusing innovations
- institutional regimes of long run growth
- indeterminaciesresulting expectation formation in the
economy
- the synergetic approach and its application to market
morphology.
The volume documentsa variety of modeling tools in
evolutionary economics and offers a series ofstimulating
hypotheses and research results. Its reading is a `must' for
all scholars with an interest in economic change.