Archivio per 20 aprile 2012

20
Apr
12

Ariel Rubinstein: Modeling Bounded Rationality

See on Scoop.itBounded Rationality and Beyond

Ariel Rubinstein

Modeling Bounded Rationality,

MIT Press, 1998.

I am grateful to MIT PRESS
who allow me to post the whole book “Modeling Bounded Rationality” on the web.

Download Freely

The Whole Book

See on arielrubinstein.tau.ac.il

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20
Apr
12

Bounded Rationality and the Search for Organizational Architecture

See on Scoop.itBounded Rationality and Beyond

The problem of designing, managing, and coordinating the efforts of different parts of complexorganizations is central to the management and organizations literature. A central element, inturn, of Simon’s (1962) argument, which provides a foundation for understanding complexorganizations, is that the fundamental properties of complex systems are hierarchy and near-decomposability. These dual properties are argued to enhance the evolvability of such systems.A critical question, however, is whether boundedly rational managers will be able to identify anduncover some true, latent structure of hierarchy and decomposability. This question is intimatelyrelated to broader issues of concern to organization theory including the usefulness and value of design efforts and the implications of organizational change processes. In an effort to uniteSimon’s ideas about complexity with mainstream organization theory, we address three researchquestions: (1) how does the architecture or structure of complexity affect the feasibility andusefulness of boundedly rational design efforts; (2) do efforts to adapt in the space of organizational forms complicate or complement the effectiveness of first-order change efforts;(3) to what extent does the rate of environmental change nullify the usefulness of design efforts.We employ a computational model of organizational adaptation to examine these questions. Our results, in identifying the boundary conditions around successful design efforts, suggest that theunderlying architecture of complexity of organizations, particularly the presence of hierarchy, isa critical determinant of the feasibility and effectiveness of design efforts. We also find thatdesign efforts are generally complementary to efforts at local performance improvement andidentify specific contingencies that determine that extent of complementarity. We discuss theimplications of our findings for organization theory and design and also the burgeoning literatureon modularity in products and organizations.

See on www.scribd.com

20
Apr
12

Noncomputability, unpredictability, undecidability & unsovability in economic & Finance Theories

See on Scoop.itBounded Rationality and Beyond

We outline, brie y, the role that issues of the nexus between noncomputability and unpredictability, on the one hand, and between undecidability and unsolvability, on the other, have played in Computable Economics. The mathematical underpinnings of Computable Economics are provided by (classical) recursion theory, varieties of computable and constructive analysis and aspectsof combinatorial optimization. The inspiration for this outline was provided by Professor Graca’s thought-provoking recent article.

See on www.assru.economia.unitn.it




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