An implementation on Python of the Classical Nelson and Winter Models

Abstract

This paper addresses the computational implementation in Python of the family of classical Schumpeterian Competition models developed by Nelson and Winter. A simple one-shot model is presented as a seed for the development of evolutionary dynamic models. Then, a parallel development between theory and computational implementation using the inheritance capabilities present in Python is done, in order to contemplate innovation, system dynamics, adaptive innovation policies and patents. The results of the original work are compared to the results found throughout the development of this work.