The Experts below are selected from a list of 39039 Experts worldwide ranked by ideXlab platform
Robert Gibbons - One of the best experts on this subject based on the ideXlab platform.
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inside organizations pricing politics and Path Dependence
Research Papers in Economics, 2010Co-Authors: Robert GibbonsAbstract:When economists have considered organizations, much attention has focused on the boundary of the firm, rather than its internal structures and processes. In contrast, this review sketches three approaches to the economic theory of internal organization—one substantially developed, another rapidly emerging, and a third on the horizon. The first approach (pricing) applies Pigou's prescription: If markets get prices wrong, then the economist's job is to fix the prices. The second approach (politics) considers environments where important actions inside organizations simply cannot be priced, so power and control become central. Finally, the third approach (Path Dependence) complements the first two by shifting attention from the between variance to the within. That is, rather than asking how organizations confronting different circumstances should choose different structures and processes, the focus here is on how Path Dependence can cause persistent performance differences among seemingly similar enterprises.(This abstract was borrowed from another version of this item.)
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inside organizations pricing politics and Path Dependence
Annual Review of Economics, 2010Co-Authors: Robert GibbonsAbstract:When economists have considered organizations, much attention has focused on the boundary of the firm, rather than its internal structures and processes. In contrast, this review sketches three approaches to the economic theory of internal organization—one substantially developed, another rapidly emerging, and a third on the horizon. The first approach (pricing) applies Pigou's prescription: If markets get prices wrong, then the economist's job is to fix the prices. The second approach (politics) considers environments where important actions inside organizations simply cannot be priced, so power and control become central. Finally, the third approach (Path Dependence) complements the first two by shifting attention from the between variance to the within. That is, rather than asking how organizations confronting different circumstances should choose different structures and processes, the focus here is on how Path Dependence can cause persistent performance differences among seemingly similar enterprises.
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inside organizations pricing politics and Path Dependence
Social Science Research Network, 2010Co-Authors: Robert GibbonsAbstract:When economists have considered organizations, much attention has focused on the boundary of the firm, rather than its internal structures and processes. In contrast, this essay sketches three approaches to the economic theory of internal organization - one substantially developed, another rapidly emerging, and a third on the horizon. The first approach (pricing) applies Pigou’s prescription: if markets get prices wrong then the economist’s job is to fix the prices. The second approach (politics) considers environments where important actions inside organizations simply cannot be priced, so power and control become central. Finally, the third approach (Path-Dependence) complements the first two by shifting attention from the “between” variance to the “within.” That is, rather than ask how organizations confronting different circumstances should choose different structures and processes, the focus here is on how Path-Dependence can cause persistent performance differences among seemingly similar enterprises.
Stephen E. Margolis - One of the best experts on this subject based on the ideXlab platform.
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Path Dependence, Lock-In, and History
Journal of Law Economics & Organization, 1995Co-Authors: S. J. Liebowitz, Stephen E. MargolisAbstract:Do economies and markets make remediable errors in the choice of products? Does the economy "lock-in" to these incorrect choices even when the knowledge that these choices are incorrect is readily available? The literature of Path Dependence may be understood to argue that these lock-ins and errors occur, even in a world characterized by voluntary decisions and individually maximizing behavior. In this paper we examine Path Dependence and illustrate three different forms of the term, each having a different implication regarding market errors and lock-in. Two of these meanings are common in the economy but provide no support for the claims that remediable errors occur. The third meaning, which does imply irremediable error, we show to be based on restrictive assumptions that are likely to be overcome in the real world. The analysis is illustrated by examining the market's choice of videorecorder formats.
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Path Dependence, Lock-In, and History
The Journal of Law Economics and Organization, 1995Co-Authors: S. J. Liebowitz, Stephen E. MargolisAbstract:Do economies and markets make remediable errors in the choice of products? Does the economy "lock-in" to these incorrect choices even when the knowledge that these choices are incorrect is readily available? The literature of Path Dependence may be understood to argue that these lock-ins and errors occur, even in a world characterized by voluntary decisions and individually maximizing behavior. In this article, we examine Path Dependence and illustrate three different forms of the term, each having a different implication regarding market errors and lock-in. Two of these meanings are common in the economy but provide no support for the claims that remediable errors occur. The third meaning, which does imply irremediable error, we show to be based on highly restrictive and implausible assumptions. The analysis is illustrated by examining the market's choice of video-recorder formats. Path Dependence has been offered as an alternative analytical perspective for economics, a revolutionary reformulation of the neoclassical paradigm. Brian Arthur, a leading figure in this literature, distinguishes between "conventional economics," which largely avoids increasing returns or Path Dependence, and the new "positive feedback economics," which embraces them (Arthur, 1990: 99). Before we stroll too far along the Path Dependence Path, however, it makes sense to stop, take stock, and figure out where that Path is leading us. The claim for Path Dependence is that a minor or fleeting advantage or a seemingly inconsequential lead for some technology, product, or standard can have important and irreversible influences on the ultimate market allocation of resources, even in a world characterized by voluntary decisions and individually maximizing behavior. The Path Dependence literature comes to us accompanied and motivated by amathematical literature of nonlinear dynamic models, known as chaos or complexity models, for which a key finding is "sensitive Dependence
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Path Dependence and Public Policy: Lessons from Economics
The Evolution of Path Dependence, 1Co-Authors: Stephen E. MargolisAbstract:The notion and interpretation of Path Dependence have been discussed and utilized in various social sciences during the last two decades. This innovative book provides significant new insights onto how the different applications of Path Dependence have developed and evolved. The authors suggest that there has been a definite evolution from applications of Path Dependence in the history of technology towards other fields of social science. They also discuss the various definitions of Path Dependence (strong or weak) and explore the potential applications of Path Dependence in new areas such as political economy and economic geography.
Jörg Sydow - One of the best experts on this subject based on the ideXlab platform.
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Organizational Path Dependence
International Encyclopedia of the Social & Behavioral Sciences, 2015Co-Authors: Jörg Sydow, Georg SchreyöggAbstract:Organizations are increasingly required to change rapidly and radically, i.e., to innovate or adapt to new circumstances in the technical and/or institutional environment. However, sometimes such organizational changes turn out to be extremely difficult, if not impossible. The theory of organizational Path Dependence features prominently in explaining this somewhat puzzling inertia. The antecedents, mechanisms, and outcomes of Path Dependence for organizations and interorganizational arrangements like alliances and networks are outlined.
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Organizational Path Dependence: A Process View
Organization Studies, 2011Co-Authors: Georg Schreyögg, Jörg SydowAbstract:The structuring and behaviour of organizations is increasingly explained with the help of process theories, taking into account that history and sequencing matter. Among them, the notion of Path Dependence has gained prominence, in particular when an explanation for the rigidification of organizational routines and strategies is at stake. The distinguishing feature of this concept is its emphasis on self-reinforcing mechanisms when explaining the dynamics of narrowing down the scope of alternative actions in and among organizations. After having presented and discussed the theory of organizational Path Dependence, the paper highlights commonalities and contrasts between related concepts. Thereafter, the papers of this Special Themed Section will be introduced.
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organizational Path Dependence opening the black box
Academy of Management Review, 2009Co-Authors: Jörg Sydow, Georg Schreyögg, Jochen KochAbstract:To enable a better understanding of the underlying logic of Path Dependence, we set forth a theoretical framework explaining how organizations become Path dependent. At its core are the dynamics of self-reinforcing mechanisms, which are likely to lead an organization into a lock-in. By drawing on studies of technological Paths, we conceptualize the emergent process of Path Dependence along three distinct stages. We also use the model to explore breakouts from organizational Path Dependence and discuss implications for managing and researching organizational Paths.
Christian List - One of the best experts on this subject based on the ideXlab platform.
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A Model of Path-Dependence in Decisions over Multiple Propositions
American Political Science Review, 2004Co-Authors: Christian ListAbstract:I model sequential decisions over multiple interconnected propositions and investigate Path-Dependence in such decisions. The propositions and their interconnections are represented in propositional logic. A sequential decision process is Path-dependent if its outcome depends on the order in which the propositions are considered. Assuming that earlier decisions constrain later ones, I prove three main results: First, certain rationality violations by the decision-making agent – individual or group – are necessary and sufficient for Path-Dependence. Second, under some conditions, Path-Dependence is unavoidable in decisions made by groups. Third, Path-Dependence makes decisions vulnerable to strategic agenda setting and strategic voting. I also discuss escape-routes from Path-Dependence. My results are relevant to discussions on collective consistency and reason-based decisionmaking, focusing not only on outcomes, but also on underlying reasons, beliefs and constraints.
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a model of Path Dependence in decisions over multiple propositions
Economics Papers, 2002Co-Authors: Christian ListAbstract:Decisions or arguments over multiple interconnected propositions are Path-dependent if they depend on the order in which the propositions are considered. I develop a model of sequential decision or argumentation processes over multiple propositions, focussing on so-called modus ponens processes. I prove three main results. (1) Path-Dependence occurs if and only if an individual’s or a group’s initial dispositions on a set of propositions violate deductive closure. (2) If we impose universal domain, anonymity and decisiveness on a (collective) modus ponens decision process, Path-dependencies are unavoidable. (3) Path-Dependence makes sequential decision or argumentation processes vulnerable to manipulation by changes of the decision-Path and to manipulation by expression of untruthful views on the propositions. I discuss three escape-routes from the problem of Path-Dependence: the unanimity approach, the dictatorship approach, and the domain restriction approach.
Georg Schreyögg - One of the best experts on this subject based on the ideXlab platform.
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Organizational Path Dependence
International Encyclopedia of the Social & Behavioral Sciences, 2015Co-Authors: Jörg Sydow, Georg SchreyöggAbstract:Organizations are increasingly required to change rapidly and radically, i.e., to innovate or adapt to new circumstances in the technical and/or institutional environment. However, sometimes such organizational changes turn out to be extremely difficult, if not impossible. The theory of organizational Path Dependence features prominently in explaining this somewhat puzzling inertia. The antecedents, mechanisms, and outcomes of Path Dependence for organizations and interorganizational arrangements like alliances and networks are outlined.
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Organizational Path Dependence: A Process View
Organization Studies, 2011Co-Authors: Georg Schreyögg, Jörg SydowAbstract:The structuring and behaviour of organizations is increasingly explained with the help of process theories, taking into account that history and sequencing matter. Among them, the notion of Path Dependence has gained prominence, in particular when an explanation for the rigidification of organizational routines and strategies is at stake. The distinguishing feature of this concept is its emphasis on self-reinforcing mechanisms when explaining the dynamics of narrowing down the scope of alternative actions in and among organizations. After having presented and discussed the theory of organizational Path Dependence, the paper highlights commonalities and contrasts between related concepts. Thereafter, the papers of this Special Themed Section will be introduced.
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organizational Path Dependence opening the black box
Academy of Management Review, 2009Co-Authors: Jörg Sydow, Georg Schreyögg, Jochen KochAbstract:To enable a better understanding of the underlying logic of Path Dependence, we set forth a theoretical framework explaining how organizations become Path dependent. At its core are the dynamics of self-reinforcing mechanisms, which are likely to lead an organization into a lock-in. By drawing on studies of technological Paths, we conceptualize the emergent process of Path Dependence along three distinct stages. We also use the model to explore breakouts from organizational Path Dependence and discuss implications for managing and researching organizational Paths.
