Related papers: The Role of Innovation within Economics
Eco-evolutionary game dynamics which characterizes the mutual interactions and the coupled evolutions of strategies and environments has been of growing interests in very recent years. Since such feedback loops widely exist in a range of…
The aim of this paper is to reemphasize the money theory of exchange which is centered on the function of exchange medium of money, and make a contribution towards linearization of the quantity equation of exchange. A dynamical quantity…
In this working paper, I developed a suite of macroeconomic models that shed light on the intricate relationship between economic development, health, and fertility. These innovative models conceptualize health as an intermediate good,…
In this review article we explore several recent advances in the quantitative modeling of financial markets. We begin with the Efficient Markets Hypothesis and describe how this controversial idea has stimulated a number of new directions…
System dynamics is a methodology that is widely used in many academic fields. It explains the behavior of social and economic systems with models that capture complex causality and feedback effects. This 'practice paper' discusses the…
This research proposes the econophysics kinetic market model as an evolutionary algorithm's instance. The immediate results from this proposal is a new replacement rule for family competition genetic algorithms. It also represents a…
We propose an evolutionary competition model to investigate the green transition of firms, highlighting the role of adjustment costs, dynamically adjusted transition risk, and green technology progress in this process. Firms base their…
Ecology and evolution are inseparable. Motivated by some recent experiments, we have developed models of evolutionary ecology from the perspective of dynamic networks. In these models, in addition to the intra-node dynamics, which…
Uncertainty, characterised by randomness and stochasticity, is ubiquitous in applications of evolutionary game theory across various fields, including biology, economics and social sciences. The uncertainty may arise from various sources…
Open data, as an essential element in the sustainable development of the digital economy, is highly valued by many relevant sectors in the implementation process. However, most studies suppose that there are only data providers and users in…
Innovation is a key ingredient for the evolution of several systems, including social and biological ones. Focused investigations and lateral thinking may lead to innovation, as well as serendipity and other random discovery processes. Some…
Innovation and evolution are two processes of paramount relevance for social and biological systems. In general, the former allows to introduce elements of novelty, while the latter is responsible for the motion of a system in its phase…
Evolutionary economics has developed into an academic field of its own, institutionalized around, amongst others, the Journal of Evolutionary Economics (JEE). This paper analyzes the way and extent to which evolutionary economics has become…
We introduce a complex systems perspective on innovation in networks in which innovation is conceptualized as a form of creative act associated with the dynamics and evolution of business network. We show how innovation is a form of…
The evolution of the Internet has manifested itself in many ways: the traffic characteristics, the interconnection topologies and the business relationships among the autonomous components. It is important to understand why (and how) this…
Modelling all possible life cycles of a company in a highly competitive economic environment gives a significant advantage to the owner in his business investment activities. This article proposes and analyses a dynamic model of a company's…
Persistent economic competition is often justified as a mechanism of innovation, efficiency, and welfare maximization. Yet empirical evidence across disciplines reveals that competition systematically generates fragility, inequality, and…
Innovation in the economy is an important engine of growth and no economy, whatever its complexity and degree of advancement, whether it is based on industry, agriculture, high tech or the providing of services, can be truly healthy without…
The processes of ecological interactions, dispersal and mutations shape the dynamics of biological communities, and analogous eco-evolutionary processes acting upon economic entities have been proposed to explain economic change. This…
Entanglement or entanglement generating interactions permit to achieve the maximum allowed speed in the dynamical evolution of a composite system, when the energy resources are distributed among subsystems. The cases of pre-existing…