This book is a printed edition of the Special Issue "Real-Time Optimization" that was published in Processes

Optimal Resource Allocation in Coordinated Multi-Cell Systems provides a solid grounding and understanding for optimization of practical multi-cell systems and will be of interest to all researchers and engineers working on the practical design of such systems.

This is my PhD dissertation defended in 1966 at the University of Minnesota and it was never published. It has been cited and used in other researchers work so I now make it available. The problem of optimal resource allocation over time is formulated as an optimal control problem. This is where the existence of optimal programs is investigated (and sufficient conditions are provided) for the first time in economics. When earlier authors spoke of existence, they spoke of convergence of the integral defining the optimality criterion. Optimal programs were characterized in terms of market equilibria at each point in time as well as imputed prices for stocks of capital.One of the propositions in the paper establishes the principle of centralization of planning and decentralization of implementation (this closely relates to polycenterism advocated by European socialist parties in the late 1950s. If one uses a measure space of traders instead of the basic time interval and assume pure exchange then the existence theorem of this paper can greatly simplify the proof of existence of equilibrium in a or a much more flexible model of exchange with continuum of traders.

In this book, Jon Conrad and Colin Clark develop the theory of resource economics.

A UNIQUE ENGINEERING AND STATISTICAL APPROACH TO OPTIMAL RESOURCE ALLOCATION Optimal Resource Allocation: With Practical Statistical Applications and Theory features the application of probabilistic and statistical methods used in reliability engineering during the different phases of life cycles of technical systems. Bridging the gap between reliability engineering and applied mathematics, the book outlines different approaches to optimal resource allocation and various applications of models and algorithms for solving real-world problems. In addition, the fundamental background on optimization theory and various illustrative numerical examples are provided. The book also features: An overview of various approaches to optimal resource allocation, from classical Lagrange methods to modern algorithms based on ideas of evolution in biology Numerous exercises and case studies from a variety of areas, including communications, transportation, energy transmission, and counterterrorism protection The applied methods of optimization with various methods of optimal redundancy problem solutions as well as the numerical examples and statistical methods needed to solve the problems Practical thoughts, opinions, and judgments on real-world applications of reliability theory and solves practical problems using mathematical models and algorithms Optimal Resource Allocation is a must-have guide for electrical, mechanical, and reliability engineers dealing with engineering design and optimal reliability problems. In addition, the book is excellent for graduate and PhD-level courses in reliability theory and optimization.