Question

An r&d program by one firm cannot replicate a successful technology developed by another firm. this is an example of:_______.

Answer 1

An r&d program by one firm cannot replicate a successful technology developed by another firm. this is an example of Path dependency.

What is the meaning of path dependency?

Path dependence is the propensity for institutions or technologies to stick with a particular course of development as a result of their structural characteristics or their core values.

What are some examples of path dependence?

• Path dependency can also be the result of an unwillingness or inability to commit to change due to the costs involved.
• A town centered on a factory is a prime illustration of path dependence.
• For a variety of reasons, it is ideal for a factory to be situated away from residential areas.

What is path dependent risk?

Path-dependent risks occur when choosing the incorrect course would result in significant time, financial, or both losses.

Learn more about Path dependency

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