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How to Count to One Thousand

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Author Info

  • Sobel, Joel

Abstract

An agent must verify that n objects are present. While counting, the agent might lose track and need to start over. The scheme that minimizes the expected counting time involves several layers in which objects are grouped into stacks, which are grouped into stacks of stacks, and so on. The size of each division depends only on the probability of making a mistake; the number of levels in the process increases with the logarithm of the size of the task. Variations on the model are introduced to investigate the optimal size of an organization employing presence of error-prone workers. Copyright 1992 by Royal Economic Society.

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Bibliographic Info

Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 102 (1992)
Issue (Month): 410 (January)
Pages: 1-8

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Handle: RePEc:ecj:econjl:v:102:y:1992:i:410:p:1-8

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Cited by:
  1. Alison L Booth & Gylfi Zoega, 2005. "Worker Heterogeneity, Intra-firm Externalities and Wage Compression," Birkbeck Working Papers in Economics and Finance 0515, Birkbeck, Department of Economics, Mathematics & Statistics.
  2. Booth, Alison L & Zoega, Gylfi, 2002. "If You're so Smart, Why Aren't You Rich? Wage Inequality with Heterogenous Workers?," CEPR Discussion Papers 3190, C.E.P.R. Discussion Papers.
  3. Flavio Toxvaerd, 2004. "Time of the Essence," Discussion Paper Series dp358, The Center for the Study of Rationality, Hebrew University, Jerusalem.
  4. Eyal Winter, 2001. "Scapegoats and Optimal Allocation of Responsibility," Discussion Paper Series dp266, The Center for the Study of Rationality, Hebrew University, Jerusalem.
  5. Massimo Egidi & Luigi Marengo, 1995. "Division of Labour and Social Coordination Modes. A simple simulation model," CEEL Working Papers 9501, Cognitive and Experimental Economics Laboratory, Department of Economics, University of Trento, Italia.
  6. Kremer, Michael, 1993. "The O-Ring Theory of Economic Development," The Quarterly Journal of Economics, MIT Press, vol. 108(3), pages 551-75, August.
  7. Massimo Egidi, 1995. "Virtuous and Adverse selection within Economic Organizations," CEEL Working Papers 9502, Cognitive and Experimental Economics Laboratory, Department of Economics, University of Trento, Italia.

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