Research Reports from the Department of Operations

Document Type

Report

Publication Date

1-1-1964

Abstract

The existence and structure of the scheme is considered convergence of the price-adjustment rule used by the central agency is discussed. The result, applicable to intereacting processes, promises on a computational basis, significant advantages. Conceptually, it greatly extends the applicability of some basic economic concepts, and indicates the possibility of a merger of pricing theory and equlilbrium of allocation with modern control theory.

Keywords

Operations research, Mathematical optimization, Control theory, Decentralization in management, Equilibrium (Economics), Resource allocation. System analysis, Computational complexity, Concave functions

Publication Title

Technical Memorandums from the Department of Operations, School of Management, Case Western Reserve University

Issue

Technical memorandum no. 12

Rights

This work is in the public domain and may be freely downloaded for personal or academic use

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