Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

Econometrica: Nov, 1976, Volume 44, Issue 6

An Interactive Market-Planning Procedure<1141:AIMP>2.0.CO;2-M
p. 1141-1152

Robert L. Welch

A process which combines a planning procedure for the allocation of final products and a multilateral nonrecontracting trading process for allocating primary and intermediate goods is defined and shown to satisfy Malinvaud's criteria for evaluating planning procedures. Central processing costs are lower than in the Malinvaud procedure since the central planner only collects information on final products.

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