PRICE GUIDES IN DECENTRALIZED ORGANIZATION
Abstract
The use of prices as a means for achieving efficient allocation of resources within a decentralized system such as a business firm is discussed. Two general classes of problems are studied: efficiency of resource allocation, and coordination of the results of operations. These problems are examined with special reference to cases when external effects are present. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Jun 28, 1962
- Accession Number
- AD0277705
Entities
People
- Andrew Whinston
Organizations
- Yale University