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Fast Learning in Organizations


  • Blume, A.

    () (University of Iowa)


This paper explores how efficiency structures language. It starts from the premise that one of language's central characteristics is to provide a means for saying novel things about novel circumstances, its creativity. As such it is a metaphor for the choice of organizational forms that can cope with a changing environment. It is shown how creative language use is achieved via reliance on common knowledge structures, even if those structures are consistent with an a priori absence of a common language.

Suggested Citation

  • Blume, A., 1997. "Fast Learning in Organizations," Working Papers 97-10, University of Iowa, Department of Economics.
  • Handle: RePEc:uia:iowaec:97-10

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    References listed on IDEAS

    1. Peter C. B. Phillips & Bruce E. Hansen, 1990. "Statistical Inference in Instrumental Variables Regression with I(1) Processes," Review of Economic Studies, Oxford University Press, vol. 57(1), pages 99-125.
    2. Peter C.B. Phillips & Chin Chin Lee, 1996. "Efficiency Gains from Quasi-Differencing Under Nonstationarity," Cowles Foundation Discussion Papers 1134, Cowles Foundation for Research in Economics, Yale University.
    3. Peter C.B. Phillips, 1988. "Spectral Regression for Cointegrated Time Series," Cowles Foundation Discussion Papers 872, Cowles Foundation for Research in Economics, Yale University.
    4. Peter C.B. Phillips & Victor Solo, 1989. "Asymptotics for Linear Processes," Cowles Foundation Discussion Papers 932, Cowles Foundation for Research in Economics, Yale University.
    5. Durlauf, Steven N & Phillips, Peter C B, 1988. "Trends versus Random Walks in Time Series Analysis," Econometrica, Econometric Society, vol. 56(6), pages 1333-1354, November.
    6. Xiao, Zhijie & Phillips, Peter C. B., 1998. "Higher-order approximations for frequency domain time series regression," Journal of Econometrics, Elsevier, vol. 86(2), pages 297-336, June.
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    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games


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