Econometrica: Jul 1978, Volume 46, Issue 4

On a Planning Process Due to Taylor

https://doi.org/0012-9682(197807)46:4<761:OAPPDT>2.0.CO;2-P
p. 761-777

Parkash Chander

This paper describes a decentralized planning process which is a formalization of an iterative method proposed by Taylor [12] 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 [10] also as a formalization of Taylor's method.

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