Cover: The decisionmaking problem in development.

The decisionmaking problem in development.

Published 1960

by Burton H. Klein

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Part of a continuing study designed to improve the conduct of military research and development. This paper indicates the aspects in which the decisionmaking problem in development is different from that in production decisions. The nature of the uncertainties involved in development decisions is discussed, together with the decisionmaking problem. The author shows the similarity between the conclusions of this paper and the idea advanced by Schumpeter that the conditions required for an efficient allocation of existing resources are not the same as the conditions required for rapid economic progress.

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