Econometrica Vol. 32 No. 4 1964
On the Existence of an Optimal Plan in a Continuous-Time Allocation Process
Abstract
Every now and then, one encounters an allocation problem in which the variable is a point in an infinite-dimensional space. In such problems, the existence of an optimal choice among all permissible choices is not always assured. The present discussion is devoted to an investigation of this issue for a specific (but fairly common) class of allocation problems. Conditions for the existence of an optimal choice are derived and discussed.
- DOI
- 10.2307/1910179
- Volume
- 32
- Issue
- 4
- Pages
- 576
- Sources
- openalex crossref