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The surprising benefits of a parallel universe

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Author Info
Manfredi M.A. La Manna (Department of Economics, University of St Andrews, St Andrews, UK)
Abstract

Suppose 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 © 2008 John Wiley & Sons, Ltd.

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File URL: http://hdl.handle.net/10.1002/mde.1441
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Publisher Info
Article provided by John Wiley & Sons, Ltd. in its journal Managerial and Decision Economics.

Volume (Year): 30 (2009)
Issue (Month): 2 ()
Pages: 109-117
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:wly:mgtdec:v:30:y:2009:i:2:p:109-117

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Web page: http://www3.interscience.wiley.com/cgi-bin/jhome/7976

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  1. 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. [Downloadable!] (restricted)
  2. Moldovanu, Benny & Sela, Aner, 2006. "Contest architecture," Journal of Economic Theory, Elsevier, vol. 126(1), pages 70-96, January. [Downloadable!] (restricted)
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  3. Vishwanath, Tara, 1992. "Parallel Search for the Best Alternative," Economic Theory, Springer, vol. 2(4), pages 495-507, October.
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