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Mathematical Programming and Economic Theory

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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
    DOI: 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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