The growth of evolutionary thinking has had a profound impact on economic theory and related fields such as strategy and technological innovation. An important paradigm that underlies the evolutionary theory of innovation is neo-Darwinian evolution. According to this paradigm, evolution is
gradualist and based on the mechanisms of variation, selection, and retention. Since the 1970s, theoretical advancements in evolutionary biology have recognised the central role of punctuated equilibrium, speciation, and exaptation. However, despite their significant influence in evolutionary
biology, these advancements have been reflected only partially in evolutionary approaches to economics, strategy, and innovation. The aim of this book is to review these advancements and explore their implications, with a particular emphasis on the role of serendipity and unprestateability in
innovation and novelty creation.
Author(s): Gino Cattani, Mariano Mastrogiorgio
Publisher: Oxford University Press
Year: 2021
Language: English
Pages: 256
City: Oxford
Cover
New Developments in Evolutionary Innovation: Novelty Creation in a Serendipitous Economy
Copyright
Foreword from Richard Nelson
Foreword from Franco Malerba
Contents
List of Figures
List of Contributors
1: New Developments in Evolutionary Innovation: An Introduction
References
2: New Frontiers: Punctuated Equilibrium, Speciation, and Exaptation in Innovation
Evolutionary theory in economics, strategy, and innovation
An overview of the current paradigm: neo-Darwinian evolution
Towards a new paradigm: punctuated equilibrium, speciation, and exaptation
A short digression: is there a true link between biology and technology?
Woesian models of technological evolution
Serendipity, unprestateability, and disequilibrium: a new paradigm
Innovating without planning: an option-basedlogic
References
3: On The Origins of The Airframe Revolution: Managing Exaptive Radical Innovation
Introduction
The airframe revolution
The silent inception of the airframe revolution in Fokker’s memoir
The airframe revolution: contradictory background
The exaptive origins of the airframe revolution
On the true origins of the airframe revolution: a microhistorical account
Exaptive radical innovation: who invented the thick wing?
The emergence of a new market: evolving the modern airliner
The dynamics of gradual revolution: a stylized model
The hidden riches of engineering: how normal technology can foster radical innovation
Discussion
The airframe revolution: summarizing the case
Is exaptation really unpredictable? Rethinking an ideological tenet
Predictable exaptations: towards a methodology for managing radical innovation
Conclusions
Acknowledgments
GLOSSARY
References
4: A Non-Predictive View: Evolution, Unprestateability, Disequilibrium
Evolution, unprestateability, and disequilibrium
An excursus on equilibrium in the economic debate
The physical roots of equilibrium
The energetics analogy according to Mirowski
Equilibrium and market efficiency
Beyond equilibrium: unprestateable evolution
References
5: New Evolutionary Theory Via Simulation: NK Landscapes and Beyond
NK landscapes in evolutionary theory
The classical NK landscape
Generalized NK landscapes
Functional expansion
Unprestateable evolution
Holey landscapes
Beyond landscapes: towards a quantum formalism?
History-friendly modelling
References
6: From Trees to Networks: Technological Evolution from the Complexity Angle
Patent data in innovation research: beyond localness
Network approaches to technological evolution
Main paths, islands, and the genetic approach
Networks, economic complexity, and disequilibrium
References
7: The Search Function and Evolutionary Novelty
Introduction
Passive environments and organisms in economics and biology
Teeming environments and organism-specificity
The role of search images and functional search
A side note: science and life as problem-solving
Search and novelty: implications for economics and innovation
Conclusion
Acknowledgements
References
8: Extended Cognition and The Innovation Process
Introduction
Theoretical background
The extended cognition hypothesis
Off-loading,epistemic manipulation, and the transformative approach
The exaptive innovation process in an extended perspective
Innovating through artefacts
Affordable innovations
Organizational implications: reconceptualizingpracticality
References
9: Organizing for Unprestateability: An Option-Based Approach
Unprestateable innovation: the need of an option-basedapproach
An option-basedapproach to functional expansion: basic principles
A stylized option-valuationsetting
Shadow optionality
Inducing functional expansion through serendipity arrangements
Shadow optionality, serendipity, and competitive advantage
References
10: The Cultural Evolution of Creative Ideas and Social Innovations: A Complex Systems Approach
Introduction
In what sense does technology evolve?
Creativity: the process that drives cultural evolution
How creativity drives innovation in a social system
The role of creative destruction
An economic example and a social innovation response
A complex systems approach to social innovation and its relationship to worldviews
Conclusion
References
Conclusions
References
Index of Authors
Index
