A Note on the Possibility of Decentralization in a Model of Allocation of Resources

Pradip Maiti and Ramprasad Sengupta
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Pradip Maiti: Indian Statistical Institute, Calcutta
Ramprasad Sengupta: Presidency College, Calcutta

Management Science, 1973, vol. 19, issue 12, 1459-1462

Abstract: The decomposition algorithm for the solution of large-scale linear programmes has been interpreted by Baumol and Fabian (Management Science, September, 1964) as a procedure for decentralized decision by the multi-division company or the multi-sector economy. While commenting on the possibility of decentralization in this context, they maintain that an economy's optimum point will not in general yield a sectoral optimum. The present note demonstrates that this contention is not valid.

Date: 1973
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