Coordination Through Committees and Markets (Classic Reprint)
Language: English
Published by Forgotten Books, 2018
- Softcover
- New
Seller: Forgotten Books, London, United KingdomForgotten Books
AbeBooks seller since June 2, 2021
Condition: New
£ 13.55
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Print on Demand. This book examines the concept of coordination through two common mechanisms: committees and markets. The author argues that committees are more likely to achieve coordination than markets, even when speed is a factor. They analyze these two mechanisms in a simple model and show that the committee is more likely to achieve coordination. Moreover, although it is slower, it outperforms the market mechanism, even when we allow for the value of speed. Third, they examine a hybrid of the first two mechanisms, in which both talk and unilateral preemptive actions are allowed. They show that, far from marring its performance, unilateral actions improve upon the committee system. This hybrid system more closely resembles the committee system the more important coordination is, relative to conflict. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book.…
Seller Inventory # 9781332256464_0
- Title
- Coordination Through Committees and Markets (Classic Reprint)
- Author
- Joseph Farrell, Garth Saloner
- Publisher
- Forgotten Books
- Publication year
- 2018
- Condition
- New
- Book Type
- print-on-demand item
- Binding
- Paperback
- Language
- English
- ISBN 10
- 1332256465
- ISBN 13
- 9781332256464
- Seller catalogs
- Games
Formal negotiation through a committee can avoid some of the problems that mar the performance of the market mechanism. In particular, explicit communication and a commitment not to adopt without agreement prevent the incompatible adoption that often happens if two or more firms try to lead the bandwagon. But these committees too are imperfect coordinators. Often, by the time a committee is convened, participants have vested interests in incompatible positions,9 and the committee must resolve this conflict Since the consensus principle, which is generally accepted in voluntary standard setting, requires committees to seek a stronger consensus than a simple majority vote (though not necessarily unanimity), there may be a battle of wills in committee, while users wait.10 Such waiting is costly.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
"Synopsis" may belong to another edition of this title.
Forgotten Books
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Forgotten Books’ Classic Reprint Series utilizes the latest technology to regenerate facsimiles of historically important writings. Careful attention has been made to accurately preserve the original format of each page whilst digitally enhancing the quality of the aged text.
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Forgotten Books publishes hundreds of thousands of rare and classic books.
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
This text has been digitally restored from a historical edition. Some errors may persist, however we consider it worth publishing due to the work's historical value.
The digital edition of all books may be viewed before purchase if you request a sample.
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