search query: @indexterm efficiency / total: 625
reference: 264 / 625
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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