Accession Number:

AD0735075

Title:

An Optimal Control Model of Product Improvement R and D

Descriptive Note:

Corporate Author:

RAND CORP SANTA MONICA CA

Personal Author(s):

• Shishko, Robert

Report Date:

1971-07-26

Pagination or Media Count:

35.0

Abstract:

A model is constructed to determine how much to put into a particular R and D program at any time. The problem is formulated in the following way given a production function for technical change one seeks a path which maximizes the present discounted value of the difference between its benefits and costs. The model is developed within the context of a program in which an organization attempts to improve the performance of one of its systems subject to an arbitrary fiscal constraint which limits the rate of R and D spending on that system.

Descriptors:

• *OPTIMIZATION
• *RESEARCH MANAGEMENT
• MANAGEMENT PLANNING AND CONTROL
• ECONOMICS

Subject Categories:

• Administration and Management
• Operations Research

Distribution Statement:

APPROVED FOR PUBLIC RELEASE