Charles Blackorby, Daniel Primont, David Nissen, R. Robert Russell
Decentralized decision making is consistent if it is executed without cost (i.e., without a loss of output or utility). Consistency requires that the objective function be appropriately structured. In this paper, a hierarchical decision making structure is rationalized by an objective function which combines some of the properties of homothetic separability and asymmetric separability.
MLA
Blackorby, Charles, et al. “Recursively Decentralized Decision Making.” Econometrica, vol. 42, .no 3, Econometric Society, 1974, pp. 487-496, https://www.jstor.org/stable/1911786
Chicago
Blackorby, Charles, Daniel Primont, David Nissen, and R. Robert Russell. “Recursively Decentralized Decision Making.” Econometrica, 42, .no 3, (Econometric Society: 1974), 487-496. https://www.jstor.org/stable/1911786
APA
Blackorby, C., Primont, D., Nissen, D., & Russell, R. R. (1974). Recursively Decentralized Decision Making. Econometrica, 42(3), 487-496. https://www.jstor.org/stable/1911786
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