The role of imitative mechanisms within the economic evolution
In the light of Schumpeter’s pioneering vision of economic evolution the innovations and innovative entrepreneurs play a fundamental role in the economic development. However, imitations and producers-imitators are essential in diffusing and adapting innovations into the economic exchange processes....
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Sciendo
2018-11-01
|
| Series: | Economics and Business Review |
| Subjects: | |
| Online Access: | https://doi.org/10.18559/ebr.2018.4.4 |
| _version_ | 1818608922811957248 |
|---|---|
| author | Lipieta Agnieszka |
| author_facet | Lipieta Agnieszka |
| author_sort | Lipieta Agnieszka |
| collection | DOAJ |
| description | In the light of Schumpeter’s pioneering vision of economic evolution the innovations and innovative entrepreneurs play a fundamental role in the economic development. However, imitations and producers-imitators are essential in diffusing and adapting innovations into the economic exchange processes. In this context the aim of the paper is to model and analyse some properties of imitative mechanisms appearing within the economic evolution. Innovative and imitative mechanisms defined in Hurwicz’s conceptual apparatus are analysed in the economy determined by the use of topological tools usually applied in the general equilibrium theory. As a result it is shown that, in the economy under study, imitative mechanisms are the reasons for and the consequences of innovative mechanisms as well as that the innovative and imitative processes can coexist in the framework of the same innovative mechanism. Moreover it is proven that under some assumptions equilibrium in the economic system analysed can be obtained as a consequence of either of an innovative or an imitative mechanism. |
| first_indexed | 2024-12-16T14:50:21Z |
| format | Article |
| id | doaj.art-087089bdfa224c87812e8d5a98e7eb9c |
| institution | Directory Open Access Journal |
| issn | 2450-0097 |
| language | English |
| last_indexed | 2024-12-16T14:50:21Z |
| publishDate | 2018-11-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Economics and Business Review |
| spelling | doaj.art-087089bdfa224c87812e8d5a98e7eb9c2022-12-21T22:27:37ZengSciendoEconomics and Business Review2450-00972018-11-0144648210.18559/ebr.2018.4.4ebr.2018.4.4The role of imitative mechanisms within the economic evolutionLipieta Agnieszka0Cracow University of Economics, Faculty of Finance and Law, Department of Mathematics, Rakowicka 27,Cracow, PolandIn the light of Schumpeter’s pioneering vision of economic evolution the innovations and innovative entrepreneurs play a fundamental role in the economic development. However, imitations and producers-imitators are essential in diffusing and adapting innovations into the economic exchange processes. In this context the aim of the paper is to model and analyse some properties of imitative mechanisms appearing within the economic evolution. Innovative and imitative mechanisms defined in Hurwicz’s conceptual apparatus are analysed in the economy determined by the use of topological tools usually applied in the general equilibrium theory. As a result it is shown that, in the economy under study, imitative mechanisms are the reasons for and the consequences of innovative mechanisms as well as that the innovative and imitative processes can coexist in the framework of the same innovative mechanism. Moreover it is proven that under some assumptions equilibrium in the economic system analysed can be obtained as a consequence of either of an innovative or an imitative mechanism.https://doi.org/10.18559/ebr.2018.4.4schumpeterian evolutioninnovationimitationprivate ownership economyequilibrium |
| spellingShingle | Lipieta Agnieszka The role of imitative mechanisms within the economic evolution Economics and Business Review schumpeterian evolution innovation imitation private ownership economy equilibrium |
| title | The role of imitative mechanisms within the economic evolution |
| title_full | The role of imitative mechanisms within the economic evolution |
| title_fullStr | The role of imitative mechanisms within the economic evolution |
| title_full_unstemmed | The role of imitative mechanisms within the economic evolution |
| title_short | The role of imitative mechanisms within the economic evolution |
| title_sort | role of imitative mechanisms within the economic evolution |
| topic | schumpeterian evolution innovation imitation private ownership economy equilibrium |
| url | https://doi.org/10.18559/ebr.2018.4.4 |
| work_keys_str_mv | AT lipietaagnieszka theroleofimitativemechanismswithintheeconomicevolution AT lipietaagnieszka roleofimitativemechanismswithintheeconomicevolution |