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Increasing Returns and Path Dependence in the Economy (Economics, Cognition, And Society) Paperback – Illustrated, October 26, 1994

by W. Brian Arthur (Author)
4.4 4.4 out of 5 stars 11 ratings
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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.
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  1. Print length
    224 pages
  2. Language
    English
  3. Publisher
    University of Michigan Press
  4. Publication date
    October 26, 1994
  5. Dimensions
    6 x 0.9 x 9 inches
  6. ISBN-10
    0472064967
  7. ISBN-13
    978-0472064960
  8. See all details
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4.4 out of 5 stars
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Top reviews from the United States

  • D. Garnett
    5.0 out of 5 stars An important book — with implications for business which go far beyond economics
    Reviewed in the United States on July 27, 2019
    Verified Purchase
    I’d read about Brian Arthur in Waldrop’s “Complexity”. The more I thought about it, I figured I needed to get a first hand sense of Arthur’s vision of complexity in economics.

    I was not disappointed. There are points which are mathematically thick — but I didn’t need to fully embrace those to see tremendous impact for businesses. After all, businesses presume they can predict well. Arthur shows the unpredictable — and that those things will always be unpredictable. It returns to business the reality we should never have lost: all business requires smart management within situations where risk is always present.

    A tremendous discover.
    One person found this helpful
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  • Mez Aye new
    3.0 out of 5 stars Internal margins
    Reviewed in the United States on July 14, 2024
    Verified Purchase
    Improving the margins such as marginal cost could produce greater profit than simply focusing on growth
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  • J Hartford
    5.0 out of 5 stars Essential reading for anyone interested in how our economy really works.
    Reviewed in the United States on March 1, 2013
    Verified Purchase
    This beautifully written work elucidates how our economy really works and would be particularly helpful to all business students and the would-be entrepreneurs among us.
    3 people found this helpful
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  • Ellis R. Miller
    4.0 out of 5 stars Fantastic Insights into Knowledge Economy
    Reviewed in the United States on October 4, 2009
    Verified Purchase
    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.
    3 people found this helpful
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  • william white
    3.0 out of 5 stars Decent price
    Reviewed in the United States on February 24, 2013
    Verified Purchase
    I expected more details on how efficiencies that lead to increasing returns worked and are discovered. Greater analysis of who and how the increasing returns accrued to would have been useful.
    One person found this helpful
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  • Giovanna M R Lima
    4.0 out of 5 stars Theoretical base for increasing returns in economics
    Reviewed in the United States on April 2, 2010
    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.
    5 people found this helpful
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  • Hugo
    5.0 out of 5 stars Sehr schönes Werk
    Reviewed in Germany on April 5, 2014
    Verified Purchase
    Das Buch gibt relativ simpel Aufschluss, was es mit der "Path Dependece" (Pfadabhängigkeit) auf sich hat. Dabei gehen die einzelnen Kapitel gut auf die diversen Teilabschnitte ein. Auch für Leser, die der englischen Sprache eher abgeneigt sind, ist dies zu empfehlen. Es ist meist recht einfach und gut verständlich geschrieben (jedenfalls für die Thematik). Zur deutschen Einführung empfehle ich ebenfalls Martin, Ron (2006): Pfadabhängigkeit und die ökonomische Landschaft. In: Berndt, Christian/Glückler, Johannes: Denkanstöße zu einer anderen Geographie. Bielefeld: transcript. S. 47-76.
    One person found this helpful
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