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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Gooding, T. (2019). System Efficiency. In: Economics for a Fairer Society. Palgrave Pivot, Cham. https://doi.org/10.1007/978-3-030-17020-2_9
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DOI: https://doi.org/10.1007/978-3-030-17020-2_9
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