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Optimal resource allocation in chemical research

Published online by Cambridge University Press:  01 July 2016

J. C. Gittins
J. C. Gittins*
Affiliation:
University Engineering Laboratory, Cambridge
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Extract

The problem of allocating scientific effort between a number of competing projects is considered. A stochastic mathematical model is set up, and for the case of just two competing projects a number of results are proved which enable the best policy to be determined. An indication is given of the ways in which these results might be extended so as to deal with more general situations.

Type
Research Article
Information
Advances in Applied Probability , Volume 1 , Issue 2 , Autumn 1969 , pp. 238 - 270
Copyright
Copyright © Applied Probability Trust 

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