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: May, 1973, Volume 41, Issue 3

Autonomous Control of the Economic System<509:ACOTES>2.0.CO;2-Q
p. 509-528

Bela Martos, Janos Kornai

The possible impact of autonomous control (vs. the price mechanism and directive control) on the functioning of an economic system is studied. It sheds some light on similarities among economic systems that are quite different in their higher functioning. The survival and stability conditions for a Leontief-type economy demonstrate the role stock signals can play in controlling the behavior of producers and consumers.

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