Increasing Returns and Path Dependence in the Economy¶
Arthur, W. B. (1994). Increasing Returns and Path Dependence in the Economy. University of Michigan Press.
Cited by¶
3 citations across 3 artifacts.
Each citation links to the sentence it supports in the citing article.
Primes¶
- Increasing Returns
- The pattern was named most sharply by W. Brian Arthur, whose 1994 essays argued that whole sectors of modern industry — software, networks, knowledge work — operate under rising-marginal payoffs rather than the textbook diminishing ones.
This sourceCollected essays elaborating the rising-marginal payoff regime as a feature of modern industry (software, networks, knowledge-intensive sectors), with the gradient-versus-loop distinction made explicit and contrasted to the diminishing-returns textbook default.
- The pattern was named most sharply by W. Brian Arthur, whose 1994 essays argued that whole sectors of modern industry — software, networks, knowledge work — operate under rising-marginal payoffs rather than the textbook diminishing ones.
- Lock-In
- The economic-history literature on competing technologies, surveyed by Arthur (1994), treats these as canonical.
This sourceCollected essays elaborating the rising-marginal payoff regime as a feature of modern industry (software, networks, knowledge-intensive sectors), with the gradient-versus-loop distinction made explicit and contrasted to the diminishing-returns textbook default.
- The economic-history literature on competing technologies, surveyed by Arthur (1994), treats these as canonical.
- Niche Construction
- In economics and industrial organization, firms shape the markets they compete in — a dominant firm shaping a software ecosystem its later strategy responds to, railroad builders altering the geography that determined which towns supplied freight, platforms creating the very conditions of value that feed back into platform competition.
This sourceCollects Arthur's work on self-reinforcing mechanisms by which firms and technologies shape the markets and competitive landscapes that then act back on them.
- In economics and industrial organization, firms shape the markets they compete in — a dominant firm shaping a software ecosystem its later strategy responds to, railroad builders altering the geography that determined which towns supplied freight, platforms creating the very conditions of value that feed back into platform competition.
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