Integrating Methodologies: Tools for Studying Economic Evolution

Klaus Solberg Söilen ()
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Klaus Solberg Söilen: Halmstad University

Chapter 5 in Applied Evolutionary Economics, 2025, pp 77-88 from Springer

Abstract: Abstract This chapter introduces the methodological foundation for studying economic systems as dynamic, evolving entities. It critiques the limitations of static, equilibrium-based approaches and presents a flexible, interdisciplinary toolkit suited for the complexity of real-world economies. The chapter showcases how evolutionary economics benefits from methodological pluralism—combining qualitative depth, quantitative precision, simulation modeling, and historical insight. With the addition of a new section on prediction, it further explores how scenario-based modeling, probabilistic reasoning, and artificial intelligence can be integrated into evolutionary thinking. Rather than forecasting fixed outcomes, this approach emphasizes adaptive foresight—mapping possibilities, testing resilience, and modeling nonlinear system behavior. Throughout, readers are shown how methodological choices must align with the nature of the phenomena being studied, echoing the evolutionary principle that adaptation, not perfection, ensures survival. The chapter prepares the ground for concrete applications in innovation, policy, and institutional design explored in later chapters.

Keywords: Evolutionary economics; Methodology; Prediction; Adaptive foresight; Agent-based modeling; Scenario planning; Evolutionary game theory; Network analysis; Historical institutionalism; Complexity economics; Artificial intelligence; Brier score; Critical thinking; Interdisciplinary research; Methodological pluralism; Simulation; Dynamic systems (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-032-03683-4_5

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DOI: 10.1007/978-3-032-03683-4_5

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