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History Matters: Modelling Path Dependence on a Spreadsheet

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  • Chris Hand

    ()
    (Kingston University)

Abstract

This paper explores methods of simulating Polya Urn Models using a spreadsheet. The Polya Urn model provides a statistical model of path dependent behaviour where the final equilibrium is determined by random chance or historical accident.

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File URL: http://www.economicsnetwork.ac.uk/cheer/ch18/hand.pdf
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Bibliographic Info

Article provided by Economics Network, University of Bristol in its journal Computers in Higher Education Economics Review.

Volume (Year): 18 (2006)
Issue (Month): 1 ()
Pages: 19-24

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Handle: RePEc:che:chepap:v:18:y:2006:i:1:p:19-24

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Postal: University of Bristol, BS8 1HH, United Kingdom
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  1. Cowan, Robin, 1990. "Nuclear Power Reactors: A Study in Technological Lock-in," The Journal of Economic History, Cambridge University Press, vol. 50(03), pages 541-567, September.
  2. Bikhchandani, Sushil & Hirshleifer, David & Welch, Ivo, 1992. "A Theory of Fads, Fashion, Custom, and Cultural Change in Informational Cascades," Journal of Political Economy, University of Chicago Press, vol. 100(5), pages 992-1026, October.
  3. David, Paul A, 1985. "Clio and the Economics of QWERTY," American Economic Review, American Economic Association, vol. 75(2), pages 332-37, May.
  4. Peter Hans Matthews, 2001. "Positive Feedback and Path Dependence Using the Law of Large Numbers," The Journal of Economic Education, Taylor & Francis Journals, vol. 32(2), pages 124-136, January.
  5. Kindleberger, Charles P, 1983. "Standards as Public, Collective and Private Goods," Kyklos, Wiley Blackwell, vol. 36(3), pages 377-96.
  6. De Vany, Arthur & Walls, W David, 1996. "Bose-Einstein Dynamics and Adaptive Contracting in the Motion Picture Industry," Economic Journal, Royal Economic Society, vol. 106(439), pages 1493-1514, November.
  7. Bottazzi, Giulio & Secchi, Angelo, 2003. "Why are distributions of firm growth rates tent-shaped?," Economics Letters, Elsevier, vol. 80(3), pages 415-420, September.
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