Allocating Scarce Resources
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TL;DR
A method of allocating scarce resources across budget categories in a way that is both rational and feasible because the proxies are of such a nature that they are easily obtained and can be easily worked with.
Abstract
The purpose of this chapter is to describe a method of allocating scarce resources across budget categories in a way that is both rational and feasible. It is rational because it allocates in proportion to proxies for elasticity coefficients in accordance with classical calculus optimization. It is, however, feasible in the sense that the proxies are of such a nature that they are easily obtained and can be easily worked with.