A UNIQUE ENGINEERING AND STATISTICAL APPROACH TO OPTIMAL RESOURCE ALLOCATION Optimal Resource Allocation: With Practical Statistical Applications and Theory features the application of probabilistic and statistical methods used in reliability engineering during the different pha…
Market-based control is a paradigm for controlling complex systems that would otherwise be very difficult to control, maintain, or expand. The purpose of this volume is to illustrate the utility of market-based control through a series of papers focusing on different application…
Traditional economic theory studies idealized markets in which prices alone can guide efficient allocation, with no need for central organization. Such models build from Adam Smith's famous concept of an invisible hand, which guides markets and renders regulation or interference…