Abstract
This article considers the interplay of a decision-maker and a research manager in case the former’s goal is to maximize a quadratic objective function subject to linear constraints. The analysis is carried out in a dynamic context, which implies that the decision-maker’s behaviour pattern is derived from a strategy (decision rule).
The research manager’s task is to set up investigations in such a manner that the decision-maker’s objective is approached as well as possible. The approach is elaborated in some detail for an illustrative production-inventory example.
Copyright © 1964 The International Federation of Operational Research Societies. Reprinted by permission from Actes de la 3e conference Internationale de recherche opérationnelle, (G. Kreweras and G. Morlats, eds.), Dunod, Paris, France, 455–470.
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© 1992 Springer Science+Business Media Dordrecht
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Theil, H. (1992). On the Optimal Management of Research: A Mathematical Approach. In: Raj, B., Koerts, J. (eds) Henri Theil’s Contributions to Economics and Econometrics. Advanced Studies in Theoretical and Applied Econometrics, vol 24. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-2410-2_17
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DOI: https://doi.org/10.1007/978-94-011-2410-2_17
Publisher Name: Springer, Dordrecht
Print ISBN: 978-94-010-5063-0
Online ISBN: 978-94-011-2410-2
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