Diversity and evolution of the economic system

Speaker(s)

Elżbieta Pliś

Affiliation

Uniwersytet Ekonomiczny w Krakowie

Language of the talk

English

Date

Nov. 20, 2024, 2:15 p.m.

Room

room 5070

Seminar

Seminar of Biomathematics and Game Theory Group

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In the evolutionary approach to economics, the dynamic of diversity is of particular interest. To analyze the mutual influence of economic evolution on economic diversity, we can use the concept of diversity proposed by Nehring and Puppe (Theory of Diversity, Econometrica, 2002). By defining the function of diversity in the commodity space, it can be shown that the introduction of innovations can increase the diversity of the economic system, provided that the new technological solutions have attributes that are important to consumers. On the other hand, the increase in diversity caused by innovation can change the structure of a population of firms participating in Schumpeterian competition.

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