12min chapter

Luminary cover image

Brian Arthur on technology, software, and economic systems

Luminary

CHAPTER

Increasing Returns and Positive Feedbacks

This chapter explores the concept of increasing returns in economic systems and how it relates to positive feedbacks. The speaker uses examples like video recording systems and digital payment platforms to illustrate how popularity can lead to more advantage. They also discuss the concept of lock-in and its relationship to technology, software, and economic systems.

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