search query: @author Altman, M. / total: 4
reference: 2 / 4
| Author: | Altman, M. |
| Title: | A behavioral model of path dependency: the economics of profitable inefficiency and market failure |
| Journal: | Journal of Socio-Economics
2000 : VOL. 29:2, p. 127-145 |
| Index terms: | Econometric models Efficiency Market conditions |
| Language: | eng |
| Abstract: | A model of path dependency is developed, grounded in behavioral economics, where it becomes possible and reasonable to expect a multiplicity of equilibrium solutions to identical economic problems and for the dominant solution to be sub-optimal and inefficient. |
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