Journal of Evolutionary Economics

, Volume 14, Issue 1, pp 69–84

The economic implications of exaptation

Article

DOI: 10.1007/s00191-003-0180-x

Cite this article as:
Dew, N., Sarasvathy, S.D. & Venkataraman, S. J. Evol. Econ. (2004) 14: 69. doi:10.1007/s00191-003-0180-x

Abstract.

Accounts of economic change recognize that markets create selective pressures for the adaptation of technologies in the direction of customer needs and production efficiencies. However, non-adaptational bases for technological change are rarely highlighted, despite their pervasiveness in the history of technical and economic change. In this paper the concept of exaptation -a feature co-opted for its present role from some other origin - is proposed as a characteristic element of technological change, and an important mechanism by which new markets for products and services are created by entrepreneurs. Exaptation is a missing but central concept linking the evolution of technology with the entrepreneurial creation of new markets and the concept of Knightian uncertainty.

Keywords:

Exaptation Evolution Adaptation Entrepreneurship Knightian uncertainty 

Copyright information

© Springer-Verlag Berlin/Heidelberg 2004

Authors and Affiliations

  • Nicholas Dew
    • 1
  • S. D. Sarasvathy
    • 2
  • S. Venkataraman
    • 3
  1. 1.Graduate School of Business and Public PolicyNaval Postgraduate SchoolMontereyUSA
  2. 2.R.H. Smith School of BusinessUniversity of MarylandCollege ParkUSA
  3. 3.Darden Graduate School of Business AdministrationUniversity of VirginiaCharlottesvilleUSA