From conventional economics to reputational economics: epistemological foundations, methodological advances, and the expansion of the Solow-Swan model
DOI:
https://doi.org/10.69849/d4pd4c27Keywords:
Reputational Economics, Economic Epistemology, Expanded Solow-Swan Model, ReputationAbstract
The transition from conventional economics to new paradigms represents one of the most significant transformations in contemporary economic thought. This article analyzes, from both historical and theoretical perspectives, the foundations underlying such a shift, emphasizing the limitations of classical and neoclassical models in capturing intangible assets such as trust, cooperation, and sustainability. Based on an extensive literature review and the articulation of more than sixty key references, the study develops a hybrid methodology, combining quantitative tools, such as Data Envelopment Analysis (DEA) and Difference-in-Differences (DID), with qualitative approaches rooted in institutional theory. Moreover, it proposes an extension of the Solow-Swan growth model, incorporating Reputation (R) as an accumulable and strategic variable, analogous to capital, labor, and technological progress. The findings suggest that Reputational Economics not only complements but also redefines economic analysis by integrating intangible values into the understanding of competitiveness, sustainable development, and institutional efficiency.
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