Abstract
The original online version of this article (Stenis, J. and Hogland, W. (2019) An Economic Instrument to Improve Communities. Theoretical Economics Letters, 9, 1804-1816. doi: https://doi.org/10.4236/tel.2019.96115) unfortunately contains some mistakes. The author wishes to delete the co-author and correct the errors in the main text.
Highlights
The main hypothesis in this paper is that the flow of physical and intangible utilities through entities of different kinds can be improved by applying the Naturally Optimised Revenue Demand in Communities (NORDIC) model
The benefit of the NORDIC model is that the shadow cost provides management with an instant view of the performance of their business
The previously developed EUROPE model provided an economic instrument, which was more developed into the NORDIC model
Summary
The background for this work is the common strive for achieving the wanted results with as limited resources as possible. This general motivation points at the importance of the subject. The need for ever more cost-effective organisations justifies taking up the study. This paper is required to improve communities. The Efficient Use of Resources for Optimal Production Economy (EUROPE) model [1] [2] [3] [4] [5] is developed to become even more powerful. The practical use of the EUROPE model [6] is improved. Prices [7] constitute the basis
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