The surprising benefits of a parallel universe
AbstractSuppose that the successful completion of a project requires performing n tasks, each of which has a probability of success p. The paper establishes under what conditions it may be profitable to engage in parallel multi-tasking, i.e. tackling each task by following two independent routes. It is found that for ∀n>1 parallel multi-tasking is profitable for a wide range of parameters when costs are linear and is always profitable for convex costs. Copyright Â© 2008 John Wiley & Sons, Ltd.
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Bibliographic InfoArticle provided by John Wiley & Sons, Ltd. in its journal Managerial and Decision Economics.
Volume (Year): 30 (2009)
Issue (Month): 2 ()
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Web page: http://www3.interscience.wiley.com/cgi-bin/jhome/7976
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- Vishwanath, Tara, 1992. "Parallel Search for the Best Alternative," Economic Theory, Springer, vol. 2(4), pages 495-507, October.
- Moldovanu, Benny & Sela, Aner, 2002.
Sonderforschungsbereich 504 Publications
02-06, Sonderforschungsbereich 504, Universität Mannheim & Sonderforschungsbereich 504, University of Mannheim.
- Vishwanath, Tara, 1992. "Optimal Orderings for Parallel Project Selection," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 33(1), pages 79-89, February.
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