| Article ID: | iaor19931643 |
| Country: | Poland |
| Volume: | 20 |
| Start Page Number: | 91 |
| End Page Number: | 113 |
| Publication Date: | Feb 1991 |
| Journal: | Control and Cybernetics |
| Authors: | Kulikowski Roman |
| Keywords: | social, economics |
The paper analyzes classical, simple but quite capacitous economic behaviour models of individuals and collective bodies. The model of an individual deals with production and consumption choices, as well as savings, constrained by financial balance and available time resources. Assignment of resources to activities maximizes utility. Under certain assumptions the unique optimum individual and collective strategies, which take into account competition from other individuals or organizations, can be explicitly derived. These strategies are Pareto optimal and effective, that is-efficient and stable.