Thirty Years with Spatial and Intertemporal Economics

Takashi Takayama
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Takashi Takayama: University of Western Australia

Chapter 1 in Recent Advances in Spatial Equilibrium Modelling, 1996, pp 3-47 from Springer

Abstract: Abstract The decade of the 1950s could be called the most productive decade of applied economics. The nonlinear programming paper by Kuhn and Tucker (1951), announced the dawn of the decade, followed almost immediately by George Dantzig’s Maximisation of Linear Function of Variables subject to Linear Inequalities (1951). Within the decade a number of promising applications of especially ’linear programming (LP) methods’ appeared in the professional journals and bookstores all over the world. In the field of agriculture, the late Professor E. O. Heady, an outstanding educator and pioneer in applying neoclassical economic methods to economic problems (Economics of Agricultural Production and Resource Use, 1952), energetically applied linear programming methods to economic decision making problems which culminated in a seminar work (Linear Programming Methods, with W. Candler 1958). In the field of manufacturing industries, Alan S. Manne produced another seminar work (Scheduling of Petroleum Refinery Operations,) in 1956, which has since been used by most major oil companies in the world. A large number of transportation cost minimisation LP formulations and applications were published during this period (see Gass, Linear Programming: Methods and Applications, 1969).

Keywords: Demand Function; Price Equilibrium; Storage Cost; Energy Information Administration; Linear Programming Method (search for similar items in EconPapers)
Date: 1996
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DOI: 10.1007/978-3-642-80080-1_1

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