The development of path-dependent processes basically refers to positive feedback in terms of increasing returns as the main driving forces of such processes. Furthermore, path dependence can be affected by context factors, such as different degrees of complexity. Up to now, it has been unclear...

Traditional game theory usually relies on commonly known decision rationality meaning that choices are made in view of their consequences (the shadow of the future). Evolutionary game theory, however, denies any cognitive deliberation by assuming that choice behavior evolves due to its past...

This paper analyses the role of banks in financing SMEs in Britain and Germany.

This paper analyzes the long-term effects of graduating in a recession on earnings, job mobility, and employer characteristics for a large sample of Canadian college graduates using matched university-employer-employee data from 1982 to 1999. The results are used to assess the role of job...

This paper presents experimental evidence that contributions to a public good can bepath-dependent for a limited time span. We study a repeated linear public-good gamewith punishment opportunities. Our data shows that subjects who had experienced ahigher marginal return on public-good...

Using a linked employer-employee dataset and taking the perspective of individuals rather than firms, this paper analyzes some effects of joining start-ups. We show that entrants in new firms differ from those joining incumbent firms, and we use a matching approach to compare a group of...