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Stochastic and path dependence effects in the diffusion of ideas

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  • Andrea Mantovi

    (Department of Economics, University of Parma, Italy; The Rimini Centre for Economic Analysis, Italy)

Abstract

An impersonal mechanism for the diffusion of (the productivity of) ideas along a quality ladder is represented in terms of a Feynman-Kac path integral and the corresponding linear evolution PDE. The explicit solution of the initial value problem is set forth in terms of elementary functions, and the path dependence effects embodied by such a framework are thoroughly discussed. Potential lines of progress are briefly sketched.

Suggested Citation

  • Andrea Mantovi, 2016. "Stochastic and path dependence effects in the diffusion of ideas," Working Paper series 16-12, Rimini Centre for Economic Analysis.
    • Handle: RePEc:rim:rimwps:16-12
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    References listed on IDEAS

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    Cited by:

    1. Augusto Schianchi, 2016. "La crescita endogena: una rilettura critica," QUADERNI DI ECONOMIA DEL LAVORO, FrancoAngeli Editore, vol. 2016(106), pages 31-48.

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    More about this item

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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