13 - 6 - Path Dependent or Tipping Point

Category
Path Dependence
Description
"A tipping point was a single instance in time where, where that long, long equilibrium was gonna be suddenly changed drastically. So think about path depended. Path dependent means what happens along the way. As you move along that path, how does that effect where we're likely to end up. So each step may have a small effect, but it's the accumulation of those steps that has the difference. With tipping points, everything sort of moves along in expected ways but not getting a lot of information. "- Transcript from Scott Page Coursera
Person
Resource Datasbase
Source
Scott Page Model Thinking MOOC Course