The Parable of the Hare and the Tortoise: Small Worlds, Diversity, and System Performance
Whether as team members brainstorming, or cultures experimenting with new technologies, problem solvers communicate and share ideas. This paper examines how the structure of these communication networks can affect system-level performance. We present an agent-based model of information sharing, where the less successful emulate the more successful. Results suggest that where agents are dealing with a complex problem, the more efficient the network at disseminating information, and the higher the velocity of information over that network, the better the short run and lower the long run performance of the system. The dynamic underlying this result is that an inefficient network is better at exploration than an efficient network, supporting a more thorough search for solutions in the long run. This suggests that the efficient network is the hare—the fast starter—and the poorly connected network is the tortoise—slow at the start of the race, but ultimately triumphant.
|Date of creation:||Oct 2005|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.ksg.harvard.edu/research/working_papers/index.htm
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Jan W. Rivkin, 2000. "Imitation of Complex Strategies," Management Science, INFORMS, vol. 46(6), pages 824-844, June.
- Bikhchandani, Sushil & Hirshleifer, David & Welch, Ivo, 1992.
"A Theory of Fads, Fashion, Custom, and Cultural Change in Informational Cascades,"
Journal of Political Economy,
University of Chicago Press, vol. 100(5), pages 992-1026, October.
- Sushil Bikhchandani & David Hirshleifer & Ivo Welch, 2010. "A theory of Fads, Fashion, Custom and cultural change as informational Cascades," Levine's Working Paper Archive 1193, David K. Levine.
- Jonathon N. Cummings, 2004. "Work Groups, Structural Diversity, and Knowledge Sharing in a Global Organization," Management Science, INFORMS, vol. 50(3), pages 352-364, March.
When requesting a correction, please mention this item's handle: RePEc:ecl:harjfk:rwp05-058. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.