Evolutionary efficiency in economic systems: A proposal

María-Isabel Encinar
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María-Isabel Encinar: Universidad Autónoma de Madrid, Spain

Cuadernos de Economía - Spanish Journal of Economics and Finance, 2016, vol. 39, issue 110, 93-98

Abstract: The paper proposes an efficiency criterion for evolving economic systems. Drawing on the idea that these systems develop from the interconnected actions of intentional creative agents (which invent and try to carry out action plans), the suggested criterion at a micro level could be state as follows: a system is efficient (from a micro evolutionary perspective) if agents’ intentional and hierarchical (open) goals are actualized through action. Thus, intentionality leads to facts and goals are reached. The evolutionary efficiency criterion proposed in the paper links the intended goals of heterogeneous agents and the performance of the system they are involved.

Keywords: Intentionality; Connections; Action plans; Economic systems; Evolutionary efficiency (search for similar items in EconPapers)
JEL-codes: B52 D61 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:cud:journl:v:39:y:2016:i:110:p:93-98

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