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

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  • Van Zandt, Timothy

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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Bibliographic Info

Article provided by Wiley Blackwell 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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