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Abstract
The behaviours of economic operators may be directed by goals and rationality criteria other than those postulated by neoclassical theory. Under certain conditions, the existence of deviant goals and rationality criteria, far from being eliminated by the process of ‘natural selection’, has a profound effect on market functioning. It alters the ‘natural selection’ criterion and thereby influences the market trajectory. It can also favour the development of specific mechanisms of co-ordination. Our hypothesis is illustrated by an analysis of the cultural markets.
∗This paper has been presented at the fourth annual conference of the European Association for Evolutionary Political Economy, Paris, France, 4–6 November 1992. I would like to thank the participants, Robert Delorme, Seven-Erik Sjöstrand, and the referees for their helpful comments both on the substance and the form of this paper. The normal disclaimer applies.
∗This paper has been presented at the fourth annual conference of the European Association for Evolutionary Political Economy, Paris, France, 4–6 November 1992. I would like to thank the participants, Robert Delorme, Seven-Erik Sjöstrand, and the referees for their helpful comments both on the substance and the form of this paper. The normal disclaimer applies.
Notes
∗This paper has been presented at the fourth annual conference of the European Association for Evolutionary Political Economy, Paris, France, 4–6 November 1992. I would like to thank the participants, Robert Delorme, Seven-Erik Sjöstrand, and the referees for their helpful comments both on the substance and the form of this paper. The normal disclaimer applies.