Evolution in Markets and Institutions

Evolutionary economics is the most challenging unorthodoxapproach to economic theory that has been developed in thelast decades. The present volume offers a survey as well asa carefully selected sample of important new insights from abroad 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 inevolutionary economics and offers a series ofstimulatinghypotheses and research results. Its reading is a `must' forall scholars with an interest in economic change.