Econometrica Vol. 46 No. 4 1978
On a Planning Process Due to Taylor
Abstract
[This paper describes a decentralized planning process which is a formalization of an iterative method proposed by Taylor [12] for the construction of an optimal plan in a socialist state. Further, it shows that this process is computationally and informationally more efficient than an alternative process proposed by Malinvaud [10] also as a formalization of Taylor's method.]
- DOI
- 10.2307/1909748
- Volume
- 46
- Issue
- 4
- Pages
- 761
- Sources
- bibtex:phds-export.bib openalex crossref