Is small actually big? the chaos of technological change

Abstract

In this paper, we develop themes from complexity and chaos theory that help to explain the technological change process. We apply two quantifiers, correlation dimensions and Lyapunov exponents, to examine the signs and degrees of chaotic technological dynamics. To illustrate our ideas, we study the development of electronic displays from 1976 to 2010, using patent data. The results of the chaos model are matched against the profiles of patent citations. Our analysis contributes to the development of a chaotic model of technological change. © 2014 Elsevier B.V.