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Mathematical Programming and Economic Theory

Author

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  • Herbert E. Scarf

    (Yale University, New Haven, Connecticut)

Abstract

This paper, which is based on the remarks offered during a plenary address at the May 1989 CORS/TIMS/ORSA meeting in Vancouver, discusses the analogy between economic institutions and algorithms for solving mathematical programming problems. The simplex method for solving linear programs can be interpreted as a search for market prices that equilibrate the demand for factors of production with their supply. A possible interpretation in terms of the internal organization of a large firm is offered for Lenstra's integer programming algorithm.

Suggested Citation

  • Herbert E. Scarf, 1990. "Mathematical Programming and Economic Theory," Operations Research, INFORMS, vol. 38(3), pages 377-385, June.
  • Handle: RePEc:inm:oropre:v:38:y:1990:i:3:p:377-385
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    File URL: http://dx.doi.org/10.1287/opre.38.3.377
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    References listed on IDEAS

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    1. Tjalling C. Koopmans & Martin J. Beckmann, 1955. "Assignment Problems and the Location of Economic Activities," Cowles Foundation Discussion Papers 4, Cowles Foundation for Research in Economics, Yale University.
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    Cited by:

    1. repec:eee:ejores:v:266:y:2018:i:2:p:622-638 is not listed on IDEAS
    2. James Markusen & Thomas Rutherford, 1994. "Discrete plant-location decisions in an applied general-equilibrium model of trade liberalization," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 130(1), pages 133-151, March.
    3. Soo, Kwok Tong, 2017. "Indivisibilities in the Ricardian model of trade," Economic Modelling, Elsevier, vol. 63(C), pages 311-317.
    4. Drexl, Andreas & Jörnsten, Kurt & Knof, Diether, 2005. "Non-linear anonymous pricing in combinatorial auctions," Discussion Papers 2005/6, Norwegian School of Economics, Department of Business and Management Science.
    5. repec:pal:jorsoc:v:58:y:2007:i:12:d:10.1057_palgrave.jors.2602299 is not listed on IDEAS
    6. Herbert Scarf, 1994. "The Allocation of Resources in the Presence of Indivisibilities," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 111-128, Fall.
    7. Daniel Huppmann & Sauleh Siddiqui, 2015. "An Exact Solution Method for Binary Equilibrium Problems with Compensation and the Power Market Uplift Problem," Discussion Papers of DIW Berlin 1475, DIW Berlin, German Institute for Economic Research.
    8. Bjørndal, Mette & Jörnsten, Kurt, 2008. "Equilibrium prices supported by dual price functions in markets with non-convexities," European Journal of Operational Research, Elsevier, vol. 190(3), pages 768-789, November.

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