Evolutionary economics and path dependence

de Lars Magnusson, Jan Ottosson

Evolutionary Economics and Path Dependence presents important new theoretical and empirical work on economic change, learning processes, institutional change, choice and path dependency. The theoretical section includes discussion of the microfoundations of path dependency, path dependency in industrial networks, path dependence and the theory of the firm, lock-in effects in relation to professional organisations, the notion of bricolage in relation to path dependency and new and neo-institutional perspectives on the theory of the firm. The empirical part focuses on institutional change in the communications and transport sectors of the economy. More specifically it shows how path dependency occurs and develops through various types of lock-in effects within institutions. This book will be essential reading for academics and students of economics and economic history wishing to keep up to date with research at the frontiers of this exciting field.