Path Dependence
Claudius Gräbner-Radkowitsch and
Jakob Kapeller
No 154, ICAE Working Papers from Johannes Kepler University, Institute for Comprehensive Analysis of the Economy
Abstract:
This short paper explains the theory of path dependence and clarifies its relation to concepts such as positive feedback or lock-in, arguing that path dependence is a core theoretical element of political economy in general, and institutional and evolutionary economics in particular. We first clarify the core conceptual elements of path dependence, show how it is relevant in a wide variety of problems and approaches, and situate these diverse applications in a common theoretical understanding that can be synthesized as a general mechanism. We then discuss the different ways in which path dependence has been theorized in evolutionary-institutional economics and related schools of thought. Finally, we present some archetypical models of path dependent processes.
Date: 2024-07
New Economics Papers: this item is included in nep-hme
References: View references in EconPapers View complete reference list from CitEc
Citations:
Downloads: (external link)
https://www.jku.at/fileadmin/gruppen/108/ICAE_Working_Papers/wp154.pdf First version, 2024 (application/pdf)
Related works:
Working Paper: Path dependence (2024) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:ico:wpaper:154
Access Statistics for this paper
More papers in ICAE Working Papers from Johannes Kepler University, Institute for Comprehensive Analysis of the Economy Contact information at EDIRC.
Bibliographic data for series maintained by Teresa Griesebner ( this e-mail address is bad, please contact ).