Increasing Returns and Path Dependence in the Economy (Economics, Cognition, and Society)

By W. Brian Arthur

Book Overview

This book brings together Professor Arthur's pioneering article and provide a comprehensive presentation of his exciting vision of an economics that incorporates increasing returns. After a decade of resistance from economists, these ideas are now being widely discussed and adopted, as Kenneth Arrow recounts in his foreword. In fundamental ways they are changing our views of the working economy.

• Format: Paperback
• Language: English
• ISBN: 0472064967
• ISBN13: 9780472064960
• Release Date: October 1994
• Publisher: University of Michigan Press
• Length: 224 Pages
• Weight: 0.85 lbs.
• Dimensions: 0.8" x 6.0" x 9.0"

Customer Reviews

Theoretical base for increasing returns in economics

It's a collection of Professor Brian Arthur and his first articles on increasing returns, a non-orthodox economics view at the time. It's very specific and at times repetitive. But it does give a full comprehension on the evolution of his thoughts and most the mathematical proof of his theories.

Fantastic Insights into Knowledge Economy

Long overdue, modernized view of increasing returns specifically in Knowledge-based (as opposed to resources i.e., coal) economy. In short, often random and difficult to predict whether "best" technologies or services win and come to predominate in a Knowledge economy of increasing returns and having seen and lived this in the IT industry (over and over) this tome is proving to be unexpectedly relevant and accurate.