论文信息 - PATH-DEPENDENCE WITHOUT INCREASING RETURNS TO SCALE AND NETWORK EXTERNALITIES

PATH-DEPENDENCE WITHOUT INCREASING RETURNS TO SCALE AND NETWORK EXTERNALITIES

Abstract The paper presents a simple model of a locked-in situation. Recent literature on path-dependence has explained locked-in situations with increasing returns to scale or network externalities. The model of this paper is a model of a single firm (there is no network of different agents) with a given size (there are no economies of scale). Our analyses shows that complementarity of a firm's assets and sunk costs can be sufficient for path-dependence.

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