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: Sah Raaj Kumar, Stiglitz J E
: The Architecture of Economic Systems: Hierarchies and Polyarchies : : 1986 : : The American Economic Review () : 4 : 76 : Raaj Kumar Sah, Joseph E. Stiglitz. The Architecture of Economic Systems: Hierarchies and Polyarchies // The American Economic Review, Vol. 76, No. 4. (Sep., 1986), pp. 716-727. : . (, , ) ( ). , . This paper presents some new ways of looking at economic systems and organizations. Individuals' judgments entail errors; they sometimes reject good projects and accept bad projects (or ideas). The architecture of an economic system (i.e., how the decision-making units are organized together within a system, who gathers what information, and who communicates what with whom) affects the errors made by individuals within the system, as well as how those errors are aggregated. : ( ) : : / : / / : () : 4630, : 466, : 4. |