Header menu link for other important links
The Complexity of Coordination
, Taghawi-Nejad Davoud
Published in Springer Science and Business Media LLC
Volume: 43
Issue: 2
Pages: 260 - 270

The traditional mechanism of finding Nash equilibria presumes economic actors are capable of performing computations that even computers would take far too long to complete. A decentralized and parallel process of interactions between simple economic actors is presented as a more plausible microfoundation of the concept of Nash equilibria. It is found that agent interactions on a scale-free network converge to an equilibrium within reasonable time. NP computational complexity of Nash equilibria does not diminish its empirical relevance.

About the journal
JournalData powered by TypesetEastern Economic Journal
PublisherData powered by TypesetSpringer Science and Business Media LLC
Open AccessNo