How do decentralized systems collectively solve problems? Here we explore the interplay among three canonical forms of collective organization - markets, networks, and hierarchies - in aggregating decentralized problem solving. We examine these constructs in the context of how the offices of...

This paper investigates the performance of three forms of organizations: hierarchies, oiligarchies and committees. Sah and Stiglitz (1986) show that hierarchies and polyarchies differ in their information processing abilities in terns of type-1 and type-1 I errors, with 'fallible' agents making...

This chapter presents a political explanation for China's financial development since it initiated market reforms in 1978. The argument focuses on the implications that arise from party officials' incentive to meet specific economic growth targets for their jurisdiction (village, town, city,...

This short paper was produced as a Research Briefing for Leicester Business School in May 2012. It explores the rise of 'horizontalism' as a hegemonic world view and then discusses its limits, applying Gramsci's theory of the integral state. The paper suggests that the concept of a 'governance...

The power to coerce workers is important for the efficient operation of hierarchically structured organizations. However, this power can also be used by managers to exploit their subordinates for their own benefit. We examine the relationship between the power to coerce and exploitation in a...