Path Dependence, Behavioral Rules, and the Role of Entrepreneurship in Economic Change: The Case of the Automobile Industry

Path Dependence, Behavioral Rules, and the Role of Entrepreneurship in Economic Change: The Case... This paper develops a complementary theory of path dependence based on rigidity resulting from the choice of management system within the firm. Rules-following behavior introduces rigidity which can lead to inefficient path dependence within a firm. Entrepreneurial alertness, in a crisis, can prevent lock-in from occurring since it leads people to alter perceptions and change behavior. An empirical look at the automobile industry explores the idea of rules-following behavior inducing path dependence development and the potential for change despite inefficient path dependent behavior. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Review of Austrian Economics Springer Journals

Path Dependence, Behavioral Rules, and the Role of Entrepreneurship in Economic Change: The Case of the Automobile Industry

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Publisher
Kluwer Academic Publishers
Copyright
Copyright © 2003 by Kluwer Academic Publishers
Subject
Economics; Public Finance; Political Science; History of Economic Thought/Methodology
ISSN
0889-3047
eISSN
1573-7128
D.O.I.
10.1023/A:1022905224020
Publisher site
See Article on Publisher Site

Abstract

This paper develops a complementary theory of path dependence based on rigidity resulting from the choice of management system within the firm. Rules-following behavior introduces rigidity which can lead to inefficient path dependence within a firm. Entrepreneurial alertness, in a crisis, can prevent lock-in from occurring since it leads people to alter perceptions and change behavior. An empirical look at the automobile industry explores the idea of rules-following behavior inducing path dependence development and the potential for change despite inefficient path dependent behavior.

Journal

The Review of Austrian EconomicsSpringer Journals

Published: Oct 4, 2004

References

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