History-Friendly Modeling: An Evolutionary Tool for Strategy Research
- 1 December 2021
- journal article
- research article
- Published by Institute for Operations Research and the Management Sciences (INFORMS) in Strategy Science
- Vol. 6 (4), 436-443
- https://doi.org/10.1287/stsc.2021.0133
Abstract
History-friendly models have been increasingly adopted to study innovation and industry evolution, the catch-up of latecomer firms and countries, and public policies. However, they have been used less in the field of strategic management. In this article, we first provide a review of the history-friendly literature, identifying its intellectual roots in evolutionary economics. Then, we discuss three possible motivations that could explain the history-friendly paradox. Finally, we propose history-friendly models as a promising tool to study current research questions in strategy.Keywords
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