Mathematical Programming and Economic Theory

Herbert Scarf

Operations Research, 1990, vol. 38, issue 3, 377-385

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.

Keywords: programming; mathematical: the relationship between algorithms and economic institutions (search for similar items in EconPapers)
Date: 1990
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Citations: View citations in EconPapers (32)

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Working Paper: Mathematical Programming and Economic Theory (1989)
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Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:38:y:1990:i:3:p:377-385

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