Exaptation and Niche Construction: Behavioral Insights for an Evolutionary Theory

There is increasing interest in the study of exaptation as a key evolutionary force that generates novelty in economic systems. This article contributes to this growing literature by showing how entrepreneurial behavior may effectually construct new market niches enabled by exapted innovations. Put differently, new technologies—whatever their source—may not spontaneously create new market niches. Instead, exaptation and niche construction—two unconventional forces in evolutionary theorizing—challenge conventional conceptualizations of markets as independent selection mechanisms.