| Title | Decision Making and Learning in a Globalizing World |
|---|---|
| Published in | Discussion paper / Tinbergen Institute. ISSN 0929-0834. |
| Author | Swank, O.H. (Otto); Visser, B. (Bauke) |
| Date | 2010-03-01 |
| Language | English |
| Type | working paper |
| Publisher | Tinbergen Institute |
| Abstract | We study two aspects of globalization. It allows a decision-maker to go beyond his own local experience and to learn from other decision-makers in addressing common problems. This improves the identification and diffusion of best practices. It also provides extra information to `markets' that evaluate decision-makers: comparisons become possible. We identify conditions under which the globalization of markets helps or hurts (i) the communication among decision-makers about their own experience and (ii) the quality of the decision that is taken next. An important mediating factor is whether decision-making is centralized or decentralized. |
| Publication | http://hdl.handle.net/1765/18544 |
| Persistent Identifier | urn:NBN:nl:ui:15-1765/18544 |
| Metadata | XML |
| Repository | Erasmus University Rotterdam |
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