Stochastic and path dependence effects in the diffusion of ideas

Andrea Mantovi ()

No 2016-EP02, Economics Department Working Papers from Department of Economics, Parma University (Italy)

Abstract: An impersonal mechanism for the stochastic diffusion of (the productivity of) ideas along a quality ladder is represented in terms of a Feynman-Kac path integral and the corresponding linear evolution PDE. The explicit solution of the initial value problem is set forth in terms of elementary functions, and the path dependence effects embodied by such a framework are thoroughly discussed. Potential lines of progress are briefly sketched.

Keywords: Endogenous Growth; Quality Ladder; Diffusion of Ideas; Path Dependence; Path Integral (search for similar items in EconPapers)
JEL-codes: O33 O40 (search for similar items in EconPapers)
Pages: 12
Date: 2016
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Citations: View citations in EconPapers (1)

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Working Paper: Stochastic and path dependence effects in the diffusion of ideas (2016)
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