Inclusion of nonlinear demand–supply relationships within large-scale partial equilibrium linear programming models

T Rehman () and C M Yates
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T Rehman: The University of Reading
C M Yates: The University of Reading

Journal of the Operational Research Society, 2005, vol. 56, issue 3, 317-323

Abstract: Abstract This paper presents a new method for the inclusion of nonlinear demand and supply relationships within a linear programming model. An existing method for this purpose is described first and its shortcomings are pointed out before showing how the new approach overcomes those difficulties and how it provides a more accurate and ‘smooth’ (rather than a kinked) approximation of the nonlinear functions as well as dealing with equilibrium under perfect competition instead of handling just the monopolistic situation. The workings of the proposed method are illustrated by extending a previously available sectoral model for the UK agriculture.

Keywords: linear programming; supply–demand relationships; partial equilibrium; linearization of nonlinear functions; agriculture (search for similar items in EconPapers)
Date: 2005
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DOI: 10.1057/palgrave.jors.2601814

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