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Stochastic and path dependence effects in the diffusion of ideas

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  • A. Mantovi

Abstract

An impersonal mechanism for the stochastic diffusion of (the productivity of) ideas along a quality ladder is represented in terms of a Feynman-Kac path integral and the corresponding linear evolution PDE. The explicit solution of the initial value problem is set forth in terms of elementary functions, and the path dependence effects embodied by such a framework are thoroughly discussed. Potential lines of progress are briefly sketched.

Suggested Citation

  • A. Mantovi, 2016. "Stochastic and path dependence effects in the diffusion of ideas," Economics Department Working Papers 2016-EP02, Department of Economics, Parma University (Italy).
    • Handle: RePEc:par:dipeco:2016-ep02
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    References listed on IDEAS

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    8. Aghion, Philippe & Akcigit, Ufuk & Howitt, Peter, 2014. "What Do We Learn From Schumpeterian Growth Theory?," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 2, chapter 0, pages 515-563, Elsevier.
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    13. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    Cited by:

    1. Augusto Schianchi, 2016. "La crescita endogena: una rilettura critica," QUADERNI DI ECONOMIA DEL LAVORO, FrancoAngeli Editore, vol. 2016(106), pages 31-48.

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    More about this item

    Keywords

    Endogenous Growth; Quality Ladder; Diffusion of Ideas; Path Dependence; Path Integral;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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