This paper describes a decentralized planning procedure which converges to a global optimum--as seen by a central planning board--whether or not the production possibility sets of the firms are convex. All information is exchanged in the form of quantities: the planning board proposes quotas and the firms respond with feasible production programs.
MLA
Cremer, Jacques. “A Quantity-Quantity Algorithm for Planning under Increasing Returns to Scale.” Econometrica, vol. 45, .no 6, Econometric Society, 1977, pp. 1339-1348, https://www.jstor.org/stable/1912303
Chicago
Cremer, Jacques. “A Quantity-Quantity Algorithm for Planning under Increasing Returns to Scale.” Econometrica, 45, .no 6, (Econometric Society: 1977), 1339-1348. https://www.jstor.org/stable/1912303
APA
Cremer, J. (1977). A Quantity-Quantity Algorithm for Planning under Increasing Returns to Scale. Econometrica, 45(6), 1339-1348. https://www.jstor.org/stable/1912303
The Executive Committee of the Econometric Society has approved an increase in the submission fees for papers in Econometrica. Starting January 1, 2025, the fee for new submissions to Econometrica will be US$125 for regular members and US$50 for student members.
By clicking the "Accept" button or continuing to browse our site, you agree to first-party and session-only cookies being stored on your device. Cookies are used to optimize your experience and anonymously analyze website performance and traffic.
