CAS PO 141 Lecture Notes - Lecture 10: Qwerty, Path Dependence, Critical Role
15 Mar 2016
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Early purchasers of type writers were not thinking about teaching the extensiv workers might just leave and go somewhere else. Cost to individual typists by software convergence was high. You started using hard to change from qwerty. Even though initial events may be random, it can exert a powerful influence over the. Game of removing balls from urn (red and blue) Pierson: path dependent process characterized by increasing returns. First draw is random, but is powerful (early draw = power early on in the game which color will dominate. As process progresses, it becomes harder to change paths. Accidental events early in a sequence do not cancel out. They feedback into fu small events will be remembered. All reach consensus, but it is an inefficient outcome. In the long run, it generat not utility maximizing. It is not just what happens, but when it happens.
