Tags » Path Dependency

The Economic Rationale for Investing in Electric Vehicles

In 1989, economist W. Brian Arthur presented the idea that under increasing returns, an inferior technology may become locked-in due to path-dependency. In other words, if an inferior technology initially offers a higher return, adoption of a superior technology may not occur. 1,264 more words

Electric Vehicles

Artunç paper on legal decentralization and the Ottoman Empire

Awhile back Tyler Cowen linked to this paper (pdf) by Cihan Artunç on legal pluralism in the Ottoman Empire, and I found it to be really interesting. 825 more words

History

I am an economist therefore I assert

About a decade ago, as a relative development aid neophyte I read Bill Easterly’s White Man’s Burden. Despite a few flaws, I loved it, not least since it validated a number of opinions that had been steadily growing in my mind. 328 more words

Incentives

The evolution of socio-ecological systems

This article investigates natural resource governance in three indigenous communities in the Colombian Amazon. We base our analysis on an evolutionary governance model in which governance dimensions emerge as relevant through time. 163 more words

Governance

Path Dependency and Complexity

Path dependency has been summed up in phrase, “history matters”; and while it explains the observed stability of many systems, some complexity theorists are trying to predict change by studying path dependency. 295 more words

Biology