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The Application of Linear Programming to Team Decision Problems

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  • Roy Radner

    (University of California, Berkeley)

Abstract

In a team decision problem there are two or more decision variables, and these different decisions can be made to depend upon different aspects of the environment, or information variables, the resulting payoff being a random variable. The choice of optimal rules for selecting information variables and for making decisions is the central problem of the economic theory of teams. This paper shows, by means of an example, how linear programming can be applied to obtain optimal team decision functions in the case in which the payoff to the team is a convex polyhedral function of the decision variables.

Suggested Citation

  • Roy Radner, 1959. "The Application of Linear Programming to Team Decision Problems," Management Science, INFORMS, vol. 5(2), pages 143-150, January.
    • Handle: RePEc:inm:ormnsc:v:5:y:1959:i:2:p:143-150
    DOI: 10.1287/mnsc.5.2.143
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    References listed on IDEAS

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    1. Jacob Marschak, 1957. "Theory of Teams: Introduction," Cowles Foundation Discussion Papers 21, Cowles Foundation for Research in Economics, Yale University.
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    Cited by:

    1. Rusmevichientong, Paat & Van Roy, Benjamin, 2003. "Decentralized decision-making in a large team with local information," Games and Economic Behavior, Elsevier, vol. 43(2), pages 266-295, May.
    2. Truchon, Michel, 1988. "Programmation mathématique et théorie économique," L'Actualité Economique, Société Canadienne de Science Economique, vol. 64(2), pages 143-156, juin.
    3. Alan S. Manne, 1959. "Linear Programming and Sequential Decision Models," Cowles Foundation Discussion Papers 62, Cowles Foundation for Research in Economics, Yale University.
    4. C.B. McGuire, 1958. "Some Models of a Sales Organization," Cowles Foundation Discussion Papers 53, Cowles Foundation for Research in Economics, Yale University.

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