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Real-Time Decentralized Information Processing as a Model of Organizations with Boundedly Rational Agents

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Author Info
Van Zandt, Timothy

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Abstract

This paper studies the properties of real-time decentralized information processing as a model of human information processing in organizations. Real-time decentralized processing--which models the computation of decision rules in a temporal decision problem by members of an organization--captures both the cost of computation in terms of the members' time and the constraints imposed by computational delay on the use of recent information. Unlike a batch processing model, it has no single measure of delay because decisions are computed from data of heterogeneous lags. Furthermore, decentralization does not unambiguously reduce delay, because processing a message precludes processing current data. Copyright 1999 by The Review of Economic Studies Limited.

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Publisher Info
Article provided by Blackwell Publishing in its journal Review of Economic Studies.

Volume (Year): 66 (1999)
Issue (Month): 3 (July)
Pages: 633-58
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Handle: RePEc:bla:restud:v:66:y:1999:i:3:p:633-58

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  1. Van Zandt, Timothy, 2003. "Real-Time Hierarchical Resource Allocation with Quadratic Costs," CEPR Discussion Papers 4022, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  2. Yijiang Wang, . "Demand, Supply and Coordination: An Integrated Theory of the Division of Labor," Working Papers 0405, Industrial Relations Center, University of Minnesota (Twin Cities Campus). [Downloadable!]
  3. Chongwoo Choe & Shingo Ishiguro, 2009. "On The (Sub) Optimality Of Multi-Tier Hierarchies: Coordination Versus Motivation," Monash Economics Working Papers 18/08, Monash University, Department of Economics. [Downloadable!]
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  4. Van Zandt, Timothy, 2004. "Balancedness of Real-Time Hierarchical Resource Allocation," CEPR Discussion Papers 4276, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  5. Kieron Meagher & Andrew Wait, 2008. "Who Decides about Change and Restructuring in Organizations?," CEPR Discussion Papers 587, Centre for Economic Policy Research, Research School of Social Sciences, Australian National University. [Downloadable!]
  6. Myong-Hun Chang & Joseph E Harrington Jr, 2004. "Agent-Based Models of Organizations," Economics Working Paper Archive 515, The Johns Hopkins University,Department of Economics. [Downloadable!]
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  7. Eyal Winter, 2001. "Scapegoats and Optimal Allocation of Responsibility," Discussion Paper Series dp266, Center for Rationality and Interactive Decision Theory, Hebrew University, Jerusalem. [Downloadable!]
  8. Meagher, Kieron & Orbay, Hakan & Van Zandt, Timothy, 2001. "Hierarchy Size and Environmental Uncertainty," CEPR Discussion Papers 2839, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  9. Maria De Paola & Vincenzo Scoppa, 2009. "Task assignment, incentives and technological factors," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 30(1), pages 43-55. [Downloadable!]
  10. Àlex Arenas & Antonio Cabrales & Albert Díaz-Guilera & Roger Guimerà & Fernando Vega, 2003. "Optimal Information Transmission in Organizations: Search and Congestion," Economics Working Papers 698, Department of Economics and Business, Universitat Pompeu Fabra. [Downloadable!]
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  11. Fernando Vega-Redondo, 2008. "Network Organizations," Economics Working Papers ECO2008/09, European University Institute. [Downloadable!]
  12. Thomas Hubbard & Luis Garicano, 2004. "Hierarchies, Specialization, and the Utilization of Knowledge: Theory and Evidence from the Legal Services Industry," Working Papers 04-07, Center for Economic Studies, U.S. Census Bureau. [Downloadable!]
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  13. Dessein, Wouter & Santos, Jesus, 2003. "The Demand for Coordination," CEPR Discussion Papers 4096, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  14. Garicano, Luis & Hubbard, Thomas, 2005. "Managerial Leverage is Limited By the Extent of the Market: Hierarchies, Specialization and the Utilization of Lawyers' Human Capital," CEPR Discussion Papers 4924, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  15. Wouter Dessein & Tano Santos, 2003. "The Demand for Coordination," NBER Working Papers 10056, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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