ON INFORMATION ECONOMICS AND AGGREGATE PLANNING DECISIONS.

Abstract

Marschak and Radner have shown that a useful framework for evaluating information within organizations is the construct of team decision theory. Radner develops team decision models for the case where organizational objective criteria are represented by a quadratic function. It is clear that this study bears directly on the analysis of optimal decision rules for aggregate planning, as reported by Holt, Theil, Van de Panne, and others. The purpose of this note is to relate these analyses explicitly and to provide a numerical example based on aggregate production planning decisions. Some practical considerations for the design of economic decision and information systems are discussed more fully in a future work.

Document Details

Document Type
Technical Report
Publication Date
Mar 01, 1966
Accession Number
AD0631937

Entities

People

  • Charles H. Kriebel

Organizations

  • Carnegie Institute of Technology

Tags

Communities of Interest

  • Human Systems

DTIC Thesaurus Topics

  • Decision Theory
  • Economics
  • Information Systems
  • Production
  • Production Planning

Readers

  • Operations Research
  • Systems Analysis and Design
  • Team-Based Human-Centered Cognitive Task Decision Making and Information Performance.