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Optimization in non-standard problems. An application to the provision of public inputs

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  • A. Jesus Sanchez Fuentes

    ()
    (Department of Economics, Universidad Pablo de Olavide)

  • Diego Martinez Lopez

    ()
    (Department of Economics, Universidad Pablo de Olavide)

Abstract

This paper describes a new method for solving non-standard constrained optimization problems for which standard methodologies do not work properly. Our method (the Rational Iterative Multisection -RIM- algorithm) consists of different stages that can be interpreted as different requirements of precision by obtaining the optimal solution. We have performed an application of RIM method to the case of public inputs provision. We prove that the RIM approach and comparable standard methodologies achieve the same results with regular optimization problems while the RIM algorithm takes advantage over them when facing non-standard optimization problems.

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File URL: http://www.upo.es/serv/bib/wps/econ0807.pdf
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Bibliographic Info

Paper provided by Universidad Pablo de Olavide, Department of Economics in its series Working Papers with number 08.07.

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Length: 31 pages
Date of creation: Mar 2008
Date of revision:
Handle: RePEc:pab:wpaper:08.07

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Keywords: direct search; constrained optimization; multisection; optimal taxation; public input.;

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  1. James P. Feehan & Mutsumi Matsumoto, 2000. "Productivity-enhancing public investment and benefit taxation: the case of factor-augmenting public inputs," Canadian Journal of Economics, Canadian Economics Association, Canadian Economics Association, vol. 33(1), pages 114-121, February.
  2. Thomas Gaube, 2005. "Financing Public Goods with Income Taxation: Provision Rules vs. Provision Level," International Tax and Public Finance, Springer, Springer, vol. 12(3), pages 319-334, May.
  3. Atkinson, Anthony B & Stern, N H, 1974. "Pigou, Taxation and Public Goods," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 41(1), pages 119-28, January.
  4. Wilson, John Douglas, 1991. "Optimal Public Good Provision with Limited Lump-Sum Taxation," American Economic Review, American Economic Association, American Economic Association, vol. 81(1), pages 153-66, March.
  5. James P. Feehan, 2002. "Distortionary Taxation and Optimal Public Spending on Productive Activities," Economic Inquiry, Western Economic Association International, Western Economic Association International, vol. 40(1), pages 60-68, January.
  6. Pestieau, Pierre, 1978. "Public intermediate goods and distortionary taxation," European Economic Review, Elsevier, Elsevier, vol. 7(4), pages 351-357, May.
  7. repec:ebl:ecbull:v:8:y:2007:i:9:p:1-10 is not listed on IDEAS
  8. Ming Chang, 2000. "Rules and Levels in the Provision of Public Goods: The Role of Complementarities between the public Good and Taxed Commodities," International Tax and Public Finance, Springer, Springer, vol. 7(1), pages 83-91, February.
  9. Feehan, James P, 1989. "Pareto-Efficiency with Three Varieties of Public Input," Public Finance = Finances publiques, , , vol. 44(2), pages 237-48.
  10. Panagiotis Xidonas & George Mavrotas & John Psarras, 2010. "Equity portfolio construction and selection using multiobjective mathematical programming," Journal of Global Optimization, Springer, Springer, vol. 47(2), pages 185-209, June.
  11. Gaube, Thomas, 2000. "When do distortionary taxes reduce the optimal supply of public goods?," Journal of Public Economics, Elsevier, Elsevier, vol. 76(2), pages 151-180, May.
  12. Carsten Colombier & Michael Pickhardt, 2005. "A Note on Public Input Specifications," International Advances in Economic Research, Springer, Springer, vol. 11(1), pages 13-18, March.
  13. Matsumoto, Mutsumi, 1998. "A note on tax competition and public input provision," Regional Science and Urban Economics, Elsevier, Elsevier, vol. 28(4), pages 465-473, July.
  14. Donghoon Lee & Matthew Wiswall, 2007. "A Parallel Implementation of the Simplex Function Minimization Routine," Computational Economics, Society for Computational Economics, Society for Computational Economics, vol. 30(2), pages 171-187, September.
  15. Diego Martinez Lopez & A. Jesus Sanchez Fuentes, 2006. "On the optimal level of public inputs," Working Papers, Universidad Pablo de Olavide, Department of Economics 06.34, Universidad Pablo de Olavide, Department of Economics, revised Mar 2008.
  16. Diego Martinez Lopez & A. Jesus Sanchez Fuentes, 2010. "How sensitive is the provision of public inputs to specifications?," Working Papers, Universidad Pablo de Olavide, Department of Economics 10.04, Universidad Pablo de Olavide, Department of Economics.
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