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Optimization Problems Subject to a Budget Constraint with Economies of Scale

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  • R. J. Hillestad

    (Rand Corporation, Santa Monica, California)

Abstract

This paper describes a finite procedure for locating a global minimum of a problem with linear objective constraints except for one nonlinear constraint, which is of the “reverse convex” variety; that is, the direction of the inequality is the opposite of that requited for a convex constraint. Budget constraints in which the cost functions are subject to economies of scale are typically of this form. An illustrative example of the procedure is provided.

Suggested Citation

  • R. J. Hillestad, 1975. "Optimization Problems Subject to a Budget Constraint with Economies of Scale," Operations Research, INFORMS, vol. 23(6), pages 1091-1098, December.
    • Handle: RePEc:inm:oropre:v:23:y:1975:i:6:p:1091-1098
    DOI: 10.1287/opre.23.6.1091
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    Cited by:

    1. Vasilios I. Manousiouthakis & Neil Thomas & Ahmad M. Justanieah, 2011. "On a Finite Branch and Bound Algorithm for the Global Minimization of a Concave Power Law Over a Polytope," Journal of Optimization Theory and Applications, Springer, vol. 151(1), pages 121-134, October.
    2. N. V. Thoai, 2010. "Reverse Convex Programming Approach in the Space of Extreme Criteria for Optimization over Efficient Sets," Journal of Optimization Theory and Applications, Springer, vol. 147(2), pages 263-277, November.
    3. R. Horst & N. V. Thoai, 1999. "DC Programming: Overview," Journal of Optimization Theory and Applications, Springer, vol. 103(1), pages 1-43, October.
    4. Reiner Horst, 1990. "Deterministic methods in constrained global optimization: Some recent advances and new fields of application," Naval Research Logistics (NRL), John Wiley & Sons, vol. 37(4), pages 433-471, August.

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