Problem

Strategic path dependency

Nature:
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