System dynamics of collective knowledge from gradualism and soltationism to punctuated change

Cristiano Antonelli ()

Dipartimento di Economia "S. Cognetti de Martiis" LEI & BRICK - Laboratorio di economia dell'innovazione "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio Carlo Alberto. WP series from University of Turin

Abstract: The economics of localized technological change provides an original framework to model the dynamics of introduction of new technologies as the result of the interaction between the inducement to change the technology generated by the mismatch between plans and expectations. Collective knowledge emerges when knowledge widening leads to knowledge deepening. The interplay between networking costs and knowledge supermodularity can explain both punctuated and graduaI change. Smooth, Marshallian dynamics can easily generate major Schumpeterian discontinuities. The divide between the theories of punctuated and gradual growth can be reconciled when the essence of the Schumpeterian and Marshallian approach is properly combined. Small variations in the parameters can generate either gradual or discontinuous changes. Punctuated technological change is likely to take place when the interplay between positive and negative knowledge extemalities leads to the creation of commons of collective knowledge and hence new technological systems. The correct appreciation of the interactions between individual action and the characteristics of the environrnent makes room for complex dynamics and provides an integrated framework able to explain in a single context both Marshallian gradualism and Schumpeterian discontinuities.

Date: 2004-04
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