Zusammenfassung Ausgangspunkt des vorliegenden Artikels ist die vorherrschende Auffassung im Digitalisierungsdiskurs, dass gegenwärtig ein ausgesprochener Technologieschub mit disruptiven Folgen für Arbeit stattfindet. Im Beitrag wird jedoch argumentiert, dass ein disruptiver und Strukturen...

The process of diffusion of standards and competition between standards is susceptible to initial conditions and is path dependent. In this paper, the authors are interested in investigating to which extent economic actions and public policy initiatives can modify the outcome of a path-dependent...

Stalled progress on explaining institutional change is, in part, the result of two conceptual challenges that hinder effective theory building: concept stretching and concept proliferation. These problems affect a hallmark concept of institutional change, path dependence, whose usefulness has...

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Political scientists studying institutional development face the challenge of accounting for both continuity and change over time. Models of path dependence based on increasing returns, inspired by the example of the QWERTY typewriter keyboard, have played an important role in the analysis of...

Suppose that we are searching for the maximum of many unknown and analytically untractable quantities or, say, the 'best alternative' among several candidates. If our decision is based on historical or simulated data there is some sort of selection bias and it is not evident if our choice is...

This paper investigates some structural properties of a family of GARCH processes. A simple sufficient condition for the existence of the αδ-order stationary solution of the processes is derived, where α element of (0, 1] and δ 0. The solution is strictly stationary and ergodic, and the...

An intersection-union test for supporting the hypothesis that a given investment strategy is optimal among a set of alternatives is presented. It compares the Sharpe ratio of the benchmark with that of each other strategy. The intersection-union test takes serial dependence into account and does...