History Matters: Modelling Path Dependence on a Spreadsheet

Chris Hand

Computers in Higher Education Economics Review, 2006, vol. 18, issue 1, 19-24

Abstract: This paper explores methods of simulating Polya Urn Models using a spreadsheet. The Polya Urn model provides a statistical model of path dependent behaviour where the final equilibrium is determined by random chance or historical accident.

Date: 2006
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