Market versus government in the light of the discussion about path dependence

Joanna Dzionek-Kozłowska ()

Ekonomia i Prawo, 2010, vol. 6, issue 1, 87-100

Abstract: An initial aim of the article is to specify when path dependency leads to undermining the efficiency of the market. The possibility of lowering the effectiveness of the market allocation mechanism leads towards consideration of reduction of negative consequences of path dependency by government. In such cases the role of the state seems limited, firstly because of the nature of the phenomenon (difficulties with prediction of far-reaching effects of certain solution), and secondly because of the high costs of the system created for monitoring of technological development.

Keywords: market failure; government failure; economic policy; path dependency (search for similar items in EconPapers)
JEL-codes: A (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:cpn:umkeip:v:6:y:2010:i:1:p:87-100

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