Hysteresis describes systems where the current state is shaped by both past and present influences. Notable for its path dependence and non-linearity, the concept is particularly relevant in disciplines such as material science, engineering, and economics.
Originating in thermodynamics, the concept of ergodicity posits that systems, over extended periods, equally traverse every possible state. Beyond its foundational role in physics, ergodicity impacts disciplines from mathematics to economics, shaping understanding of prolonged system dynamics.
Path dependence underscores how past choices shape present outcomes, often solidifying specific trajectories. Elements like sunk costs and increasing returns further entrench these paths. Though rooted in economics, the principle illuminates patterns in political, technological, and sociological realms.