A mathematical representation of economic evolution
This paper analyzes a formalization of economic evolution by means of discrete dynamical systems. An evolutionary process is seen as a sequence of values of the structural parameters of the economy. Environmental pressures or internal conflicts may force structural changes. The source of changes in the last case can be found in the conflicts among structures, which can-be traced back to conflicts between the agents' models of the economy and the actual structures. As usual in evolutionary processes, there exist a variety of possibilities, but as changes respond to unfulfilled requirements,an ordering can be defined on trajectories. The maximal ones will be called progress-efficient. (C) 1998 Elsevier Science Ltd. All rights reserved.
economic evolution discrete dynamical systems economic systems optimal paths