Computation and Complexity in Economic Behavior and Organization
Author(s): Kenneth R. Mount (Author), Stanley Reiter (Author)
Publisher: Cambridge University Press
Publication Date: June 24, 2002
Language: English
Print length: 248 pages
ISBN-10: 0521800560
ISBN-13: 9780521800563
Book Description
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.
Editorial Reviews
Review
‘… the authors present frontier research methods on the important economics of ‘mechanism design …’ Asia Pacific Journal of Management
Book Description
A presentation of the models of computing and computational complexity for economic theorists’ use.
Computation and Complexity in Economic Behavior and Organization
Author(s): Kenneth R. Mount (Author), Stanley Reiter (Author)
Publisher: Cambridge University Press
Publication Date: July 23, 2007
Edition: 1st
Language: English
Print length: 248 pages
ISBN-10: 0521037891
ISBN-13: 9780521037891
Book Description
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.
Editorial Reviews
Review
‘… the authors present frontier research methods on the important economics of ‘mechanism design …’ Asia Pacific Journal of Management
Book Description
A presentation of the models of computing and computational complexity for economic theorists’ use.
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