Resource Allocation: Value Functions and the Marginal Value Theorem.

Abstract

This paper details how to use value functions to determine which method of allocating limited resources among several activities will yield the maximum amount of obtained value to the decision maker. In addition, it introduces a model from the ecological literature for use when the value of investing in new units of an activity decreases as a function of the number of units already invested in. (Author)

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Document Details

Document Type
Technical Report
Publication Date
Oct 01, 1977
Accession Number
ADA049142

Entities

People

  • Jay J. J. Christensen-szalanski

Organizations

  • University of Washington

Tags

Communities of Interest

  • Biomedical
  • Human Systems

DTIC Thesaurus Topics

  • Computer Programming
  • Contracts
  • Education
  • Equations
  • Integer Programming
  • Investments
  • Military Research
  • Money
  • Personnel Management
  • Psychology
  • Security
  • Specialists
  • Step Functions
  • Universities

Readers

  • Logistics and Supply Chain Management.
  • Mathematical Modeling and Probability Theory.
  • Team-Based Human-Centered Cognitive Task Decision Making and Information Performance.