Path dependent institutional lock in loses its grip when agents can simulate the long run consequences of alternative institutional trajectories and migrate instantaneously to superior equilibria.
Source quote, verbatim
path-dependent lock-in effects—historically the most persistent source of institutional rigidity—lose their grip when agents can simulate the long-run consequences of alternative institutional trajectories and migrate instantaneously to superior equilibria
From
Wulf A. Kaal, The AI-to-AI Economy and the Collapse of Anthropocentric Economic Theory (2025), Overcoming Limited Foresight, p. 29 https://ssrn.com/abstract=5886442 · source PDF
Cite as
Wulf A. Kaal, The AI-to-AI Economy and the Collapse of Anthropocentric Economic Theory (2025). SSRN: https://ssrn.com/abstract=5886442
Holds when
assumes agents can simulate and evaluate institutional trajectories at negligible cost
Classification
mechanismsupport: arguedinstitutional-design
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