History-Friendly Modeling: An Evolutionary Tool for Strategy Research

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.

New Evolutionary Theory Via Simulation

Simulation modelling is very common in evolutionary approaches to economics, strategy, and technological innovation. A well-established simulation framework is the NK model of fitness landscapes, which is particularly useful for modelling the processes of technological adaptation, whose difficulty is reflected into how a fitness landscape behaves as a function of the number of components and internal interdependencies of a technology. However, classical NK models become problematic when modelling different types of processes, such as technological exaptation, unless a broader family of NK models is considered. After reviewing the classical NK model, this chapter explores the potential of ‘generalized’ NK landscapes, followed by a review of other important simulation frameworks in evolutionary theory, such as holey landscapes, quantum-like approaches, and history-friendly models.