The neo-Schumpeterian approach to innovation and Keynes’s probability: initial explorations
The aim of the paper is to show that Keynes’s concept of probability can enrichthe understanding of the process of the introduction of innovation offered by the Neo-Schumpeterian approach. To deal with uncertainty Neo-Schumpeterians introduce the conceptof routines. What is suggested here is that th...
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| Formato: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 1999 |
| País: | Brasil |
| Recursos: | EDITORA 34 |
| Repositorio: | Revista de Economia Política |
| Idioma: | inglés |
| OAI Identifier: | oai:ojs2.centrodeeconomiapolitica.org:article/1072 |
| Acesso em linha: | https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1072 |
| Access Level: | acceso abierto |
| Palavra-chave: | Neo-Schumpeterian analysis uncertainty innovation probability Análise neo-schumpeteriana incerteza inovação probabilidade |
| Resumo: | The aim of the paper is to show that Keynes’s concept of probability can enrichthe understanding of the process of the introduction of innovation offered by the Neo-Schumpeterian approach. To deal with uncertainty Neo-Schumpeterians introduce the conceptof routines. What is suggested here is that the concepts of Degree of Rational Belief andWeight of Argument, which come from the Keynes theory of probability, when used togetherwith the concept of routines, help understand the rationality of the decision-making processin introduction of an innovation. JEL Classification: O31. |
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