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- W65129234 abstract "This chapter discusses the synthetic educational planning models. These models purport to offer a compromise between the polarized assumptions of the manpower requirements approach and the cost-benefit model. A synthetic model takes substitution into account by utilizing a value of sigma other than zero or infinity, and by considering the costs and benefits of satisfying alternative manpower development strategies. This is usually performed in a two-step process. First, an estimate of the likely shift of the demand for different types of labor to the target year is arrived at by means of the manpower requirements approach. Second, the economics of the proposed labor skill structure is examined by shadow pricing the different kinds of labor and arriving at the marginal products. The theoretical basis of this scheme is the necessary duality between a quantity solution and a price solution to every resource allocation problem. This duality between the price and the quantity solution is exploited to provide a cost-benefit evaluation of manpower planning." @default.
- W65129234 created "2016-06-24" @default.
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- W65129234 date "1987-01-01" @default.
- W65129234 modified "2023-09-25" @default.
- W65129234 title "Synthetic Educational Planning Models" @default.
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- W65129234 doi "https://doi.org/10.1016/b978-0-08-033379-3.50080-2" @default.
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