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2019 | OriginalPaper | Buchkapitel

9. System Efficiency

verfasst von : Tim Gooding

Erschienen in: Economics for a Fairer Society

Verlag: Springer International Publishing

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Abstract

It is frequently said that the market economy is the most efficient economic organisation ever devised by human kind. However, numerous complexity experiments indicate that agent computational effort is inversely correlated with system efficiency. The market economy puts consider computation pressure on consumers because of the wide range of choice and prices available in a market economy. The Toy Trader model is used to test whether normal complexity characteristics hold true in monetary trade systems.

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Vorheriges Kapitel Money Distribution

Nächstes Kapitel Price Basics

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Titel: System Efficiency
verfasst von: Tim Gooding
Verlag: Springer International Publishing
Buch: Economics for a Fairer Society
Print ISBN: 978-3-030-17019-6

Electronic ISBN: 978-3-030-17020-2

Copyright-Jahr: 2019
DOI: https://doi.org/10.1007/978-3-030-17020-2_9