Why aren’t markets used more often in operations?
I believe in markets.
Last week’s post on ArtScience Groupe’s sparked a great debate about the use of markets in operations. For the most part, firms compete on the free market. Yet, most firms do not take advantage of the market mechanism in their operations.
- We certainly have methods to measure the efficiency of markets.
- We have decades of experience in managing markets.
- Everybody understands the risks that free markets pose.
Why isn’t the mechanism used more often in operations and operations research?
I’m Christopher Berry.
I tweet about analytics @cjpberry
I write at christopherberry.ca