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Evolution, Organization and Economic Behavior

Edited by Guido Buenstorf, University of Kassel, Germany
This new and original collection of papers focuses on the intersection of three strands of research: evolutionary economics, behavioral economics, and management studies. Combining theoretical and empirical contributions, the expert contributors demonstrate that the intersection of these fields provides a rich source of opportunities enabling researchers to find more satisfactory answers to questions that (not only evolutionary) economists have long been tackling. Topics discussed include individual agents and their interactions; the behavior and development of firm organizations; and evolving firms and their broader implications for the development of regions and entire economies.
Extent: 264 pp
Hardback Price: £80.00 Web: £72.00
Publication Date: 2012
ISBN: 978 1 84980 628 2
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  • Economics and Finance
  • Behavioural and Experimental Economics
  • Evolutionary Economics
Understanding the behavior of individuals and firms is at the heart of evolutionary economics, and of related fields such as behavioral economics, management, and psychology. This book brings together a set of cutting-edge theoretical and empirical contributions addressing individual agents, the evolution of firm organization, as well as the interplay of firm dynamics and regional development.

This new and original collection of papers focuses on the intersection of three strands of research: evolutionary economics, behavioral economics, and management studies. Combining theoretical and empirical contributions, the expert contributors demonstrate that the intersection of these fields provides a rich source of opportunities enabling researchers to find more satisfactory answers to questions that (not only evolutionary) economists have long been tackling. Topics discussed include individual agents and their interactions; the behavior and development of firm organizations; and evolving firms and their broader implications for the development of regions and entire economies.

This challenging book will prove a thought provoking read for academics, students and researchers with an interest evolutionary economics, behavioral economics and business and management, particularly strategy and entrepreneurship.
‘If there is anything that can invariably be experienced in modern economies, then it is their incessant innovative transformation. In this fine volume Buenstorf brings together a selection of cutting edge research papers which jointly give the reader a grasp of how these innovative changes come about. The volume highlights how evolutionary economics keeps track of the transformation processes at various levels. With its well chosen focus on behavioral studies, organizational learning and development, and industrial genealogy the volume covers the currently most dynamic topics in the field.’
– Ulrich Witt, Max Planck Institute of Economics, Germany
Contributors: Z. Babutsidze, M.C. Becker, R.A. Boschma, G. Buenstorf, T. Burger-Helmchen, U. Cantner, C. Cordes, M.S. Dahl, H. Dawid, K. Frenken, P. Gjerløv-Juel, W. Güth, P. Harting, H. Kliemt, S. Krabel, P. Llerena
Contents:

1. Introduction
Guido Buenstorf

PART I: ECONOMIC BEHAVIOR: INDIVIDUALS AND INTERACTIONS
2. To Weigh or Not to Weigh that is the Question: Advice on Weighing Goods in a Boundedly Rational Way
Werner Güth and Hartmut Kliemt

3. Emergent Cultural Phenomena and their Cognitive Foundations
Christian Cordes

4. Consumer Learning through Interaction: Effects on Aggregate Outcomes
Zakaria Babutsidze

5. Scientists’ Valuation of Open Science and Commercialization: The Influence of Peers and Organizational Context
Stefan Krabel

PART II: THE EVOLUTION OF FIRMS
6. Capturing Firm Behavior in Agent-based Models of Industry Evolution and Macroeconomic Dynamics
Herbert Dawid and Philipp Harting

7. The Emergence of Clan Control in a Science-based Firm: The Case of Carl Zeiss
Markus C. Becker

8. Creativity, Human Resources and Organizational Learning
Thierry Burger-Helmchen and Patrick Llerena

PART III: EVOLVING FIRMS AS DRIVERS OF ECONOMIC DEVELOPMENT
9. Economic Development as a Branching Process
Koen Frenken and Ron A. Boschma

10. Spin-off Growth and Job Creation: Evidence on Denmark
Pernille Gjerløv-Juel and Michael S. Dahl

11. Innovationes Jenenses: Some Insights into the Making of a Hidden Star
Uwe Cantner

Index