This comprehensive and innovative Handbook applies the tools of the economics of complexity to analyse the causes and effects of technological and structural change. It grafts the intuitions of the economics of complexity into the tradition of analysis based upon the Schumpeterian and Marshallian legacies. The Handbook elaborates the notion of innovation as an emerging property of the organized complexity of an economic system, and provides the basic tools to understand the recursive dynamics between the emergence of innovation and the unfolding of organized complexity. In so doing, it...

The concept of localized technological change is emerging at the crossroads of different approaches to the economics of innovation and new technologies. The term localized technological change' refers to the introduction of technological changes which make possible an increase in total factor productivity within only a limited range of techniques defined by the levels of factor intensity. This contrasts with generalized technological change', which is defined as the global shift of all the techniques represented on the map of isoquants of the neoclassical tradition.
The Economics of...

This volume presents the most important contributions of the last decade in the fields of science and innovation, demonstrating the key relationship between the two. Early chapters emphasize the intrinsic characteristics of knowledge as an economic activity, and later chapters document the importance of science as an input to technology and innovation. This continuum has pushed the field of economics to investigate in detail the processes that shaped the generation, dissemination, and exploitation of technological knowledge. The ideas of nearly fifty eminent researchers are assembled in this...

This volume explores the characteristics of the path-dependent dynamics of localised technological change, demonstrating how the economics of complexity can inform our understanding of the economics of innovation and vice versa.

This ground-breaking new book builds upon the Schumpeterian creative response. The author shows that firms, in out-of-equilibrium conditions, try and react by means of introducing innovations. The success of their reaction is contingent upon their access conditions to knowledge, which are shaped by the system in which they operate. The emergence of new innovations can, in turn, knock firms further out-of-equilibrium and cause changes in the system properties that govern their access to external knowledge. This path dependent loop of interactions between the system properties and the...

This volume presents a compilation of key papers chronicling the evolution of the economics of information into the economics of knowledge. It traces the unfolding of the fertile ambiguity and ambivalence of the notion of information with the identification and eventual separation of its two basic, quite distinct meanings: knowledge and signals. It documents the progressive understanding that it is not only necessary to search, screen and understand signals, but also to assess and select them so as to distinguish between true, false and fake ones. The capability to process signals and...

The notion of endogenous innovation as the outcome of the creative response of firms to out-of-equilibrium conditions is the cornerstone of the new evolutionary complexity. In this book, Cristiano Antonelli elaborates, applies and tests, with his colleagues, the Schumpeterian framework established in the author's previous work Endogenous Innovation: The Economics of an Emergent System Property. The author carefully explores the role of the reactivity of firms to out-of-equilibrium conditions with a unique mix of econometric tools and simulation techniques. He examines the central role of...