Computation and Complexity in Economic Behavior and Organization (Paperback)

Kenneth R. Mount

ISBN 10: 0521037891 / ISBN 13: 9780521037891

Published by Cambridge University Press, Cambridge, 2007

About this Item

Paperback. 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. 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 without requiring analysis of approximations. This item is printed on demand. Shipping may be from our UK warehouse or from our Australian or US warehouses, depending on stock availability.

Seller Inventory # 9780521037891

Bibliographic Details

• Title: Computation and Complexity in Economic Behavior and Organization (Paperback)
• Publisher: Cambridge University Press, Cambridge
• Publication Date: 2007
• Language: English
• ISBN 10: 0521037891
• ISBN 13: 9780521037891
• Binding: Paperback
• Edition: 1st Edition
• Condition: new

About this title

Synopsis

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.

Book Description

People and organizations in economic situations would generally prefer to act effectively in terms of their own goals. But the economic environments in which they must act are often large and complicated, and economic actors have limited abilities to observe and communicate information, and to figure out what to do in light of their goals. This book provides an analytical framework in which these limitations and their effects on behavior and organization can be studied. This treatment is addressed to economists, especially theorists, and graduate students. It may also interest computer scientists and specialists in operations research, or management science, who are interested in organization.