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A model developed to aid a state-level resource allocation process in the United States Department of Agriculture Special Supplement Food Program for Women, Infants, and Children (WIC) is presented.
This is a trivial example of a dynamic resource allocation problem, but it demonstrates some of the core challenges researchers face when tackling these problems.
Economics is the study of the allocation of scarce resources. We have infinite desires and wants and only some limited amount of resources to satisfy them.
The Supreme Court's landmark decision in Massachusetts v. EPA, requiring the federal government to reconsider its refusal to regulate greenhouse gases as an air pollutant, is the most recent example ...