Local coordination under bounded rationality: Coase meets Simon, finds Hayek

Local coordination under bounded rationality: Coase meets Simon, finds Hayek

This paper explores strategic behavior in a network of firms using an agent-based model. The model exhibits a tension between economic efficiency and the stability of the network in the face of incentives to change its configuration. This tension is to be expected because the conditions of the Coase...

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Bibliographic Details
Main Author: WOODARD, C. Jason
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2010
Subjects:
Complex networks
Bounded rationality
Institutional economics
NKC model
Databases and Information Systems
Numerical Analysis and Scientific Computing
Strategic Management Policy
Online Access:https://ink.library.smu.edu.sg/sis_research/7046
https://ink.library.smu.edu.sg/context/sis_research/article/8049/viewcontent/Local_Coordination_under_Bounded_Rationality__Coase_Meets_Simon.pdf
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Institution: Singapore Management University
Language: English

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https://ink.library.smu.edu.sg/sis_research/7046
https://ink.library.smu.edu.sg/context/sis_research/article/8049/viewcontent/Local_Coordination_under_Bounded_Rationality__Coase_Meets_Simon.pdf

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