Note---Sensitivity Analysis in Leontief Substitution Systems

Gary J. Koehler and Andrew B. Whinston
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Gary J. Koehler: Micro Data Base Systems and Purdue University
Andrew B. Whinston: Micro Data Base Systems and Purdue University

Management Science, 1980, vol. 26, issue 12, 1272-1280

Abstract: In this note we investigate extremal optimization over Leontief substitution systems. Such problems arise naturally in discounted Markov decision problems and in problems involving the control of economic systems. We develop both bounds on the objective value of a Leontief substitution system subject to perturbations and an algorithm for finding and improving perturbations.

Keywords: programming:; Leontief; substitution (search for similar items in EconPapers)
Date: 1980
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