Microfoundations of Evolutionary Economics

Yoshinori Shiozawa: BSc (Kyoto University), MSc (Kyoto University), DEA (University of Nice). Worked as a Research Associate at the Department of Mathematics and at the Institute of Economic Research, Kyoto University, (Associate and Full) Professor at the Department of Economics and Graduate School for Creative Cities, Osaka City University, and Professor at the Department of Commerce, Chuo University. He was also the second President of the Japan Association for Evolutionary Economics. He is currently a Professor Emeritus (Osaka City University) and Fellow of the Japan Association for Evolutionary Economics. He was awarded the Suntory Prize for Social Sciences and Humanities in 1992 and the JAFEE Prize in 2016.Masashi Morioka: BA, MA and PhD (Economics, all from Kyoto University). He is a member of the Japan Association for Evolutionary Economics and an associate editor of the Evolutionary and Institutional Economic Review. He is currently a Professor at the Faculty of International Relations, Ritsumeikan University.Kazuhisa Taniguchi: BSc (Ritsumeikan University), PhD (Economics, Osaka Prefecture University). Worked as (an Associate and Full) Professor at the Faculty of Economics, Osaka Sangyo University, and as a Professor at the Faculty of Economics and Graduate School of Economics, Kindai University. He is currently a member of the Japan Association for Evolutionary Economics and a Lecturer (part-time) at Kindai University.

“This book is an extensive study of a new aspect in economics: evolutionary economics. This is a central ‘dogma’ to better understanding economics and its evolution.” (Monique Pontier, zbMATH 1490.91003, 2022)“This book thoroughly investigates the principle of the ‘real’ economy. … this book must be called a piece of laborious work that draws a clear line between Romanticism and Evolutionary Economics. … this book goes beyond the scope of usual economic theory books.” (Yoshio Inoue, Evolutionary and Institutional Economics Review, Vol. 18 (1), 2021)

• Chapter 1: Microfoundations of Evolutionary Economics.- Chapter 2: A large Economic System with Minimally Rational Agents.- Chapter 3: The Basic Theory of Quantity Adjustment.- Chapter 4: Dynamic Properties of Quantity Adjustment Process under Demand Forecast Formed by a Moving Average of Past Demands.- Chapter 5: Extensions of Model Analysis of the Quantity Adjustment Process in Several Directions.- Chapter 6: Significance of Non-Linearity and Many Goods Models.- Chapter 7: Exchange and Arbitrage: Price, Evaluation and the Principle of Exchange