Giovanni Dosi, Marco Faillo, Virginia Cecchini Manara, Luigi Marengo and Daniele Moschella

Author Archive | Giovanni Dosi, Marco Faillo, Virginia Cecchini Manara, Luigi Marengo and Daniele Moschella

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The formalization of organizational capabilities and learning: results and challenges

This work offers an overview of recent formalizations of organizational capabilities and learning. We first present the main characteristics both of NK models and of the approach based on Classifier Systems, focusing on their early applications to organization studies. We then discuss how the use of these models has contributed, in the recent years, to […]

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Growth and survival of the ‘fitter’? Evidence from US new-born firms

We examine market selection mechanisms and their strength for a representative cohort of US new independent firms. In particular, we explore whether and how effectively markets reward newly-born firms according to their ‘fitness’ in terms of both labour productivity and profitability. Our analysis yields puzzling results in contrast with canonical industry dynamics models. First, we […]

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Institutions Are neither Autistic Maximizers nor Flocks of Birds: Self-organization, Power, and Learning in Human Organizations

In this work we shall attempt an excursus across fundamentally different streams of modern interpretations of the “ primitive entities” constituting the social fabrics of economic systems. Behind each specific interpretative story, there is a set of ceteris paribus assumptions and also some fictitious tale on a ‘once upon a time’ reconstruction of the theoretical […]

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Causes and Consequences of Hysteresis: Aggregate Demand, Productivity and Employment

In this work we develop an agent-based model where hysteresis in major macroeconomic variables (e.g. GDP, productivity, unemployment) emerges out of the decentralized interactions of heterogeneous firms and workers. Building upon the model in Dosi et al. (2016, 2017), we specify an endogenous process of accumulation of workers’ skills and a state-dependent process of entry, […]

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In Order to Stand up You Must Keep Cycling: Change and Coordination in Complex Evolving Economies

In this work we discuss the main building blocks, achievements and challenges of an evolutionary interpretation of the relation between mechanisms of coordination and drivers of change in modern economies, seen as complex evolving systems. It is an evident stylised fact of modern economic systems that there are forces at work which keep them together […]

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The Effects of Labour Market Reforms upon Unemployment and Income Inequalities: an Agent Based Model

This paper is meant to analyse the effects of labour market structural reforms by means of an agent-based model. Building on Dosi et al. (2016b) we introduce a policy regime change characterized by a set of structural reforms on the labour market, keeping constant the structure of the capital- and consumption-good markets. Confirming a recent […]

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Financial Regimes, Financialization Patterns and Industrial Performances: Preliminary Remarks

The evolutionary taxonomy of financial systems, outlined by Dosi (1990), argued that market-based systems would be comparatively more engaged in the exploration of new technological paradigms, as an outcome of market selective pressure, whereas the more institutionalized finance allocation in credit-based systems would give them an advantage in cumulative learning. This article offers a preliminary […]

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The “Schumpeterian” and the “Keynesian” Stiglitz: Learning, Coordination Hurdles and Growth Trajectories

This work, which shall contribute to the Fest “A Just Society: Honouring Joseph Stiglitz”, discusses a major unifying theme in Joe Stiglitz monumental work, namely, the analysis of economies characterised by persistent learning and coordination hurdles. In his analysis Joe is in many respects a “closet evolutionist” who in fact highlighted and explored many evolutionary […]

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