KmikeyM covers the Econ Nobel

Rankings / Candidate

W. Brian Arthur

Santa Fe Institute · Innovation and firms

Photo: World Economic Forum, CC BY-SA 2.0, via Wikimedia Commons

Currently #11, tier Field, score 14.3, named by 1 source.Score history: 100.0, 25.0, 14.3

The work. Increasing returns and lock-in: why an inferior technology can win a market and keep it once enough users pile on, plus the complexity economics program at Santa Fe.

The case for. Network effects became the operating logic of the tech industry, and Arthur wrote the theory in the 1980s when the journals did not want it.

The case against. Born in 1945, an engineer by training, and outside the mainstream for decades. The committee rewards work the profession absorbed, and complexity economics never quite was.

The KmikeyM angle. Lock-in says early adopters set the path. KmikeyM's first shareholders from 2008 are still steering, which is exactly what Arthur would predict.

What the sources say

  1. Clarivate alumni (prior years) named W. Brian Arthur: named in 2019: for research exploring the consequences of increasing returns (or network effects) (heat 100) Preseason: the Clarivate alumni pool