Journal Article A Symposium on Monetary Theory: On the Invariance of Demand for Cash and other Assets Get access R. W. Clower, R. W. Clower Northwestern Search for other works by this author on: Oxford Academic Google Scholar M. L. Burstein M. L. Burstein Northwestern Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 28, Issue 1, October 1960, Pages 32–36, https://doi.org/10.2307/2296247 Published: 01 October 1960

Abstract : This paper shows that control through decentralization can be affected in general if additional information in the form of preemptive goals is delegated to individual units as well as prices. It is shown that the procedure is a robust one and results in small errors in profit. The technique of preemptive goals providing further control advantages in an economy where structural change is taking place over time as reflected by changing technological coefficient matrices of individual units is indicated.