Strategic path dependency

Economic systems, even if inefficient, and social systems are hard to change despite changing circumstaznces because they follow paths detrermined by earlier institutional choices. The initial choice of a particular technology, for example, "locks" an economy into a sequence of adaptive investments that block the later adoption of more efficient technologies.
Problem Type:
J: Problems Under Consideration
Date of last update
11.03.1999 – 00:00 CET