The neo-Schumpeterian approach to innovation and Keynes’s probability: initial explorations

Autor:	MARCO CROCCO
Jazyk:	English<br />Portuguese
Rok vydání:	2022
Předmět:	Neo-Schumpeterian analysis uncertainty innovation probability Economics as a science HB71-74
Zdroj:	Brazilian Journal of Political Economy, Vol 19, Iss 4, Pp 581-601 (2022)
Druh dokumentu:	article
ISSN:	1809-4538 0101-3157
DOI:	10.1590/0101-31571999-1076
Popis:	ABSTRACT The aim of the paper is to show that Keynes’s concept of probability can enrich the understanding of the process of the introduction of innovation offered by the Neo- Schumpeterian approach. To deal with uncertainty Neo-Schumpeterians introduce the concept of routines. What is suggested here is that the concepts of Degree of Rational Belief and Weight of Argument, which come from the Keynes theory of probability, when used together with the concept of routines, help understand the rationality of the decision-making process in introduction of an innovation.
Databáze:	Directory of Open Access Journals
Externí odkaz:	https://doaj.org/article/9d077be14f444bdd9d1eb617dc47f1d2 Zobrazit plný text záznamu View record in DOAJ