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The power of parallel thinking

journal contribution
posted on 2023-10-25, 23:24 authored by M D Cohen
A small computer model demonstrates that an appropriate organization of boundedly rational individuals can find optimal policies in an environment that is overwhelmingly complex for unorganized decision makers. The model is also used to identify conditions under which optimal - or even good - policies are not found. The demonstrated adaptive power of the model is interpreted in light of recent developments in the theory of computational complexity that place new stress on powerful methods of search, and of new models from computer science which markedly advance search effectiveness by harnessing parallel structures of information processing.

History

Journal

Journal of economic behavior and organization

Volume

2

Pagination

285 - 306

Location

Amsterdam, The Netherlands

ISSN

0167-2681

Language

eng

Publication classification

CN.1 Other journal article

Copyright notice

1981, North Holland

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