"The book ranges from subtle theoretical analyses of the nature of choice to highly explicit mathematical modeling, from the theory of the firm to the theory of bureaucratic agencies. It is very engagingly written, and conveys extremely well the dilemma that must haunt any social scientist worth his salt : the necessity of choosing between realism and simplicity as guides to theory construction."Jon Elster, London Review of Books. "[An] extremely interesting book ... This volume increases one's confidence that, after all these years, Schumpeter's intuition can be stated in a formally respectable way, and therefore that the field of industrial organization can begin solving its most important problems." Journal of Comparative Economics. "An important and interesting book ... The sort of evolutionary models advanced here should have an impact on economics, and the models do have ... things to say that cannot be said by standard neoclassical models." Journal of Political Economy.

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