The Nature and Applications of Process Analysis.

MARKOWITZ, Harry M.

$975.00

Item Number: 88163

Santa Monica, California: The Rand Corporation, 1954.

Rare research memorandum written by Nobel Prize-winning economist Harry M. Markowitz providing an economy-wide process analysis model to “predict what combination of civilian and military outputs can and cannot be produced with specified national resources.” Octavo, 23 pages typescript on original Project Rand Research Memorandum letterhead including two folding graphs concerning technological and mechanical resources and outputs. In near fine condition.

Created in 1948 by the Douglas Aircraft Company, the RAND (Research ANd Development) Corporation provides research and analysis to the United States Armed Forces through interdisciplinary and quantitative problem solving using applied science and operations research. Contributing economist Harry Max Markowitz is best known for his pioneering work in modern portfolio theory, studying the effects of asset risk, return, correlation and diversification on probable investment portfolio returns.