Autori:
Antonelli, Cristiano,
Ferraris, GianluigiTitolo:
Endogenous knowledge externalities: an agent based simulation model where schumpeter meets MarshallPeriodico:
Università degli Studi di Torino. Dip. Di Economia e Statistica Cognetti de Martiis LEI & BRICK - Lab. Di economia dell'innovazione 'Franco Momigliano', Bureau of Research in Innovation, Complexity and Knowledge, Collegio Carlo Alberto. WP seriesAnno:
2012 - Volume:
1 - Fascicolo:
2 - Pagina iniziale:
1 - Pagina finale:
47The paper elaborates an agent based simulation model (ABSM) to explore the endogenous long-term dynamics of technological and structural change
determined by Schumpeterian reactions to unexpected changes in the system that are
made possible by the actual availability of Marshallian knowledge externalities that
are at the heart of economic growth. From this viewpoint ABSM, as a form of
artificial cliometrics, provides the opportunity to explore the role of endogenous
knowledge externalities for the long run dynamics of the system. The results of the
simulations confirm that endogenous knowledge externalities have powerful effects
on the equilibrium conditions of the system dynamics at the micro, the meso and the
macro levels. At the micro-level the reaction of firms caught in out-of-equilibrium conditions yields successful effects with the introduction of productivity enhancing innovations only when and where positive pecuniary knowledge externalities are actually available. At the meso-level the out-of-equilibrium dynamics of endogenous knowledge externalities affect the structural characteristics of the system. Endogenous centrifugal and centripetal forces re-shape continually the structure of the system. At the macro system level the out-of-equilibrium process leads, to step-wise increase of productivity for the system as a whole, while individual commons are exposed to nonliner
patterns of output growth characterized by significant oscillations that take the
typical form of long waves, familiar to the Schumpeterian analysis of business cycles
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