What does path dependence mean?

Definitions for path dependence
path de·pen·dence

Here are all the possible meanings and translations of the word path dependence.

Wiktionary

  1. path dependence(Noun)

    A situation in which the outcome varies with the route taken.

  2. path dependence(Noun)

    The theory that a technological option selected by the market need not be the technologically best one, because of the traction obtained by an early-introduced, technologically inferior alternative option.

Freebase

  1. Path dependence

    Path dependence explains how the set of decisions one faces for any given circumstance is limited by the decisions one has made in the past, even though past circumstances may no longer be relevant. In economics and the social sciences path dependence can refer either to outcomes at a single moment in time or to long run equilibria of a process. In common usage, the phrase implies either: ⁕ that "history matters"—a broad concept, or ⁕ that predictable amplifications of small differences are a disproportionate cause of later circumstances. And, in the "strong" form, that this historical hang-over is inefficient. The first usage,: "history matters" is trivially true in the explanatory context; everything has causes. And, in these fields, the direct influence of earlier states isn't notable. It is the narrow concept, that has the most explanatory force and which is covered in this article.

How to pronounce path dependence?

  1. Alex
    Alex
    US English
    Daniel
    Daniel
    British
    Karen
    Karen
    Australian
    Veena
    Veena
    Indian

How to say path dependence in sign language?

  1. pathdependence

Numerology

  1. Chaldean Numerology

    The numerical value of path dependence in Chaldean Numerology is: 4

  2. Pythagorean Numerology

    The numerical value of path dependence in Pythagorean Numerology is: 3

Images & Illustrations of path dependence

  1. path dependencepath dependencepath dependencepath dependencepath dependence


Translations for path dependence

From our Multilingual Translation Dictionary

  • dependencia de la trayectoriaSpanish

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