Econometrica Vol. 45 No. 6 1977
A Quantity-Quantity Algorithm for Planning under Increasing Returns to Scale
Abstract
[This paper describes a decentralized planning procedure which converges to a global optimum--as seen by a central planning board--whether or not the production possibility sets of the firms are convex. All information is exchanged in the form of quantities: the planning board proposes quotas and the firms respond with feasible production programs.]
- DOI
- 10.2307/1912303
- Volume
- 45
- Issue
- 6
- Pages
- 1339
- Sources
- bibtex:phds-export.bib crossref openalex