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Computation and Complexity in Economic Behavior and Organization

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  • Mount,Kenneth R.
  • Reiter,Stanley
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    Abstract

    This book presents a model of computing and a measure of computational complexity which are intended to facilitate analysis of computations performed by people, machines, or a mixed system of people and machines. The model is designed to apply directly to models of economic theory, which typically involve continuous variables and smooth functions, without requiring analysis of approximations. The model permits analysis of the feasibility and complexity of the calculations required of economic agents in order for them to arrive at their decisions. The treatment contains applications of the model to game theory and economics, including comparison of the complexities of different solution concepts in certain bargaining games, and the trade-off between communication and computation in an example of an Edgeworth Box economy.

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    Bibliographic Info

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    This book is provided by Cambridge University Press in its series Cambridge Books with number 9780521800563 and published in 2002.

    Order: http://www.cambridge.org/uk/catalogue/catalogue.asp?isbn=9780521800563
    Handle: RePEc:cup:cbooks:9780521800563

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    Web page: http://www.cambridge.org

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    Cited by:
    1. K. Vela Velupillai, 2007. "Taming the Incomputable, Reconstructing the Nonconstructive and Deciding the Undecidable in Mathematical Economics," Working Papers 0128, National University of Ireland Galway, Department of Economics, revised 2007.
    2. Ioannides, Yannis M., 2012. "Complexity and organizational architecture," Mathematical Social Sciences, Elsevier, vol. 64(2), pages 193-202.
    3. Mirowski, Philip, 2007. "Markets come to bits: Evolution, computation and markomata in economic science," Journal of Economic Behavior & Organization, Elsevier, vol. 63(2), pages 209-242, June.
    4. K. Vela Velupillai, 2007. "A Computable Economist’s Perspective on Computational Complexity," Department of Economics Working Papers 0723, Department of Economics, University of Trento, Italia.
    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 Economics, Australian National University.

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