Abstract
The paper presents a model of evolutionary growth and development of an economy that produces a varying number of consumer’s goods. The economy shows an increasing standard of living in terms of advances in the consumer’s hierarchy of goods. This growth is basically determined by the research of firms both directly and because research creates productivity differentials that leads to exchange and to a restructuring of research strategies of firms.
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References
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Andersen, E.S. (1997). An Evolutionary Approach to Structural Economic Dynamics. In: Conte, R., Hegselmann, R., Terna, P. (eds) Simulating Social Phenomena. Lecture Notes in Economics and Mathematical Systems, vol 456. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-03366-1_23
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DOI: https://doi.org/10.1007/978-3-662-03366-1_23
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