TY  - JOUR
TI  - Coordination in centralized and decentralized systems
AU  - Veetil, Vipin P
VL  - 10
IS  - 2
PY  - 2017
DA  - 2017/08/31
SP  - 86-102
C1  - IJM 2017;10(2):86-102
DO  - 10.34196/ijm.00157
UR  - https://doi.org/10.34196/ijm.00157
AB  - We study a simple coordination problem to understand the difference between centralized and decentralized economic systems. The decentralized system is more robust than the centralized system to communication errors. But the centralized system takes less time than the decentralized system to create coordination among constituent parts. Decentralization is preferable when the constituent parts are more likely to make communication errors, when there is little urgency, and when there is need to prevent system-collapse.
KW  - coordination
KW  - communication errors
KW  - economic systems
KW  - robustness
JF  - IJM
SN  - 1747-5864
PB  - International Journal of Microsimulation
ER  -