Why Is Evolutionary Economics Not an Empirical Science?

Institutions and Evolution of Capitalism: Essays in Honour of Geoffrey M. Hodgson, Edward Elgar, 2016

11 Pages Posted: 13 Jan 2016 Last revised: 11 Aug 2016

See all articles by Jason Potts

Jason Potts

RMIT University

Kurt Dopfer

University of St. Gallen - SEPS: Economics and Political Sciences

Date Written: January 11, 2016

Abstract

We address the question of the nature of evolutionary economics as an empirical science. We argue that economics is both a qualitative science (at the generic level) and a quantitative science (at the operational level). We map out how the generic approach provides a framework for empirical measures over heterogeneity of rules, variety within a rule, and the frequency of a rule.

Keywords: evolutionary economics, methodology, empirical measures

JEL Classification: B52

Suggested Citation

Potts, Jason and Dopfer, Kurt, Why Is Evolutionary Economics Not an Empirical Science? (January 11, 2016). Institutions and Evolution of Capitalism: Essays in Honour of Geoffrey M. Hodgson, Edward Elgar, 2016. Available at SSRN: https://ssrn.com/abstract=2714183 or http://dx.doi.org/10.2139/ssrn.2714183

Jason Potts (Contact Author)

RMIT University ( email )

Kurt Dopfer

University of St. Gallen - SEPS: Economics and Political Sciences ( email )

Rosenbergstrasse 51
St. Gallen, St. Gallen CH-9000
Switzerland

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