Objective Function Approximation: An Application to Spatial Price Equilibrium Models

Faruk Güder and James G. Morris

American Journal of Agricultural Economics, 1988, vol. 70, issue 2, 391-396

Abstract: This paper describes a method for selecting a grid size for the piece wise-linear approximation of a separable quadratic program. It describes and demonstrates application of the procedure to a spatial price equilibrium model. The method is based on an a priori bound relating the amount of objective function approximation error to the suboptimality induced in the solution of the actual optimization problem.

Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:70:y:1988:i:2:p:391-396.

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