An Extension of Lawler and Bell's Method of Discrete Optimization with Examples from Capital Budgeting

James C. T. Mao and B. A. Wallingford
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James C. T. Mao: The University of British Columbia
B. A. Wallingford: The University of Michigan

Management Science, 1968, vol. 15, issue 2, B51-B60

Abstract: The usefulness of integer programming as a tool of capital budgeting hinges on the development of an efficient solution technique. An algorithm based on partial enumeration has been developed by E. L. Lawler and M. D. Bell for solving integer linear programs with 0-1 decision variables; however their algorithm is not general enough to deal with all problems in which the objective function is quadratic. This paper extends Lawler and Bell's method so that it can be generally applied to integer quadratic programs. The new algorithm is illustrated by examples from capital budgeting.

Date: 1968
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