Marina Cortês , Stuart A. Kauffman , Andrew R. Liddle , Lee Smolin
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The TAP equation: Evaluating combinatorial innovation
We investigate solutions to the TAP equation, a phenomenological implementation of the Theory of the Adjacent Possible. Several implementations of TAP are studied, with potential applications in a range of topics including economics, social sciences, environmental change, evolutionary biological systems, and the nature of physical laws. The generic behaviour is an extended plateau followed by a sharp explosive divergence. We find accurate analytic approximations for the blow-up time that we validate against numerical simulations, and explore the properties of the equation in the vicinity of equilibrium between innovation and extinction. A particular variant, the two-scale TAP model, replaces the initial plateau with a phase of exponential growth, a widening of the TAP equation phenomenology that may enable it to be applied in a wider range of contexts.
期刊介绍:
The European Economic Review (EER) started publishing in 1969 as the first research journal specifically aiming to contribute to the development and application of economics as a science in Europe. As a broad-based professional and international journal, the EER welcomes submissions of applied and theoretical research papers in all fields of economics. The aim of the EER is to contribute to the development of the science of economics and its applications, as well as to improve communication between academic researchers, teachers and policy makers across the European continent and beyond.