ON DIFFERENT METHODS FOR ALLOCATING RESOURCES,
RAND CORP SANTA MONICA CALIF
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The paper discusses the various means of allocating resources within an economy. The following eight processes appear to be the major means for the allocation of resources the economic market with a price system voting procedures, bidding bargaining allocation by higher authority, fiat or dictatorship allocation by force, fraud and deceit allocation by custom, including gifts and inheritance and allocation by chance.
- Economics and Cost Analysis