Econometrica: Jul 1978, Volume 46, Issue 4
On a Planning Process Due to Taylor
Parkash ChanderThis paper describes a decentralized planning process which is a formalization of an iterative method proposed by Taylor  for the construction of an optimal plan in a socialist state. Further, it shows that this process is computationally and informationally more efficient than an alternative process proposed by Malinvaud  also as a formalization of Taylor's method.
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