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A Formula for the Allocation of Resources Based on Uncertain Predictions of Need

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  • J. B. Copas

Abstract

The allocation of resources is often based on estimated need derived from an analysis of historical expenditure. Such estimates can be associated with substantial statistical uncertainty. This paper proposes a formula which allows for this uncertainty by shrinking the allocation from an estimate‐based allocation to a simple size‐based allocation. An example in educational expenditure is given.

Suggested Citation

  • J. B. Copas, 1993. "A Formula for the Allocation of Resources Based on Uncertain Predictions of Need," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 156(1), pages 107-113, January.
    • Handle: RePEc:bla:jorssa:v:156:y:1993:i:1:p:107-113
    DOI: 10.2307/2982863
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    Cited by:

    1. Long, Yan & Sethuraman, Jay & Xue, Jingyi, 2021. "Equal-quantile rules in resource allocation with uncertain needs," Journal of Economic Theory, Elsevier, vol. 197(C).
    2. Jingyi Xue, 2018. "Fair division with uncertain needs," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 51(1), pages 105-136, June.

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