← Search

A Method for Determining the Appropriateness of National Planning in a Market Economy

Jeffrey B. Miller

University of Delaware

Meade demonstrates how, in the absence of futures markets for many commodities, indicative planning can supply economic agents with the requisite information about future market conditions. An incentive scheme designed to encourage agents to relay accurate information to central planners is introduced into Meade's model. It is then shown how the Groves and Loeb voting procedure can be used to determine whether an indicative planning program would be beneficial.

DOI

10.2307/1885499

Volume

95 (2)

Pages

261

Export

BibTeX

Sources

openalex crossref