Mathematical Programming and Economic Theory

Herbert Scarf

No 930, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: The paper discusses the analogy between economic institutions and algorithms for the solution of 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. An interpretation in terms of the internal organization of the large firm is offered for Lenstra's integer programming algorithm.

Keywords: Integer programming; prices; factors of production; algorithms (search for similar items in EconPapers)
Pages: 26 pages
Date: 1989-11
Note: CFP 763.
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Citations: View citations in EconPapers (3)

Published in Operations Research (May-June 1990), 38(3): 377-385

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Journal Article: Mathematical Programming and Economic Theory (1990)
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