Two Generations of Path Dependence in Economics?

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Even if there is no fully articulated and generally accepted theory of Path Dependence it has eagerly
been taken up across a wide range of social sciences – primarily coming from economics. Path
Dependence is most of all a metaphor that offers reason to believe, that some political, social or
economic processes have multiple possible paths of outcomes, rather than a unique path of
equilibria. The selection among outcomes may depend on contingent choices or events – outcomes
of path-dependent processes require a very relevant study – a perception of history.
Original languageEnglish
Number of pages24
ISBN (Electronic)978-87-92174-04-3
Publication statusPublished - 2010

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