Path dependence, lock-in, and history¶
Liebowitz, S. J., & Margolis, S. E. (1995). Path dependence, lock-in, and history. The Journal of Law, Economics, and Organization, 11(1), 205-226.
Cited by¶
3 citations across 3 artifacts.
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Primes¶
- Lock-In
- The structural insight is robust across substrates, a generality Liebowitz and Margolis (1995) examined critically in their typology of three "degrees" of path-dependence outcomes that culminate in true lock-in.
This sourceCritical typology distinguishing three "degrees" of path-dependence outcomes — only the third corresponds to true lock-in with a remediable inefficiency; sharpens the structural definition by separating it from weaker historical-dependence claims.
- The structural insight is robust across substrates, a generality Liebowitz and Margolis (1995) examined critically in their typology of three "degrees" of path-dependence outcomes that culminate in true lock-in.
- Path Dependence
- Coordination failure and sunk costs embed the inefficiency, a mechanism Liebowitz and Margolis (1995) decompose into three distinct forms of remediable and irremediable lock-in.
This sourceCritical typology distinguishing three "degrees" of path-dependence outcomes — only the third corresponds to true lock-in with a remediable inefficiency; sharpens the structural definition by separating it from weaker historical-dependence claims.
- Coordination failure and sunk costs embed the inefficiency, a mechanism Liebowitz and Margolis (1995) decompose into three distinct forms of remediable and irremediable lock-in.
- Reversibility Horizon
- The reversibility horizon is narrower: it describes the temporal crossing point where reversal cost exceeds forward cost, regardless of whether the original choice was locked in by network effects or simply by sunk investment, a separation Liebowitz and Margolis (1995) draw carefully in distinguishing the several distinct phenomena bundled together under the label "lock-in."
This sourceCritical typology distinguishing three "degrees" of path-dependence outcomes — only the third corresponds to true lock-in with a remediable inefficiency; sharpens the structural definition by separating it from weaker historical-dependence claims.
- The reversibility horizon is narrower: it describes the temporal crossing point where reversal cost exceeds forward cost, regardless of whether the original choice was locked in by network effects or simply by sunk investment, a separation Liebowitz and Margolis (1995) draw carefully in distinguishing the several distinct phenomena bundled together under the label "lock-in."
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