Prospect of the Evolutionary Theory: Empirical Issues

An important virtue of orthodox theory is that it offers a relatively definite idea of what it is that firms do: they maximize profits, sub-ject to constraints. In practice, of course, the great diversity of the problems that can be cast into this framework, as well as the con­ flicting predictions that the resulting

Prospect of the Evolutionary Theory: Policy Questions

What public policy questions might appropriately be explored with the aid of evolutionary theory? The term “policy research” does not identify a category parallel to “theoretical research” and “empirical research”; rather, every policy-oriented study has its theoretical and empirical components. On the other hand, one hopes that all re­ search is ultimately relevant, by