Gino Cattani (EDT), Mariano Mastrogiorgio (EDT) New Developments in Evolutionary Innovation

Annotation

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 ofpunctuated 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 andexplore their implications, with a particular emphasis on the role of serendipity and unprestateability in innovation and novelty creation.