Evolutionary models’ comparative analysis

A methodology of comparative analysis of evolutionary models is proposed. The main aim of this proposition is to identify to what extend different models can be called ‘evolutionary ones’. Each model is analysed by searching for answers to following questions: • Is the model dynamical one? • Is it focused on far-from-equilibrium analysis? • What are a unit of evolution and a unit of selection? • Is diversity and heterogeneity of economic agents and their behaviour observed? • Is search for innovation based on a concept of hereditary information (knowledge)? • What kinds of innovation does the model describe? • Does selection process lead to diversified rate of growth and spontaneity of development? • How economic agents set prices? • What kind of products are described by the model? • Are decision making procedures and investment procedures present in the model? Outline of selected schumpeterian models is accompanied by identification of crucial evolutionary characteristics of each model and a short indication of phenomena explained by that model. Key-words: Evolutionary economics, neo-schumpeterian models, simulation Since publication of a seminal work by Richard Nelson and Sidney Winter in 1982 evolutionary models proliferated enormously. After two decades of experience it is possible to distinguish two main streams of development within an evolutionary modelling of economic processes. The first one relates to the work of Schumpeter and the second one is based on the concept of cellular automata and relates to a general framework of artificial life and Agentbased Computational Economics (ACE). Intention of this short paper is to propose a comparative analysis of selected models much more from technical point of view then to make a review of evolutionary, neo-schumpeterian models (excellent reviews and surveys of evolutionary models can be found in Dosi et al. (1988), Saviotti, Metcalfe (1991), Nelson