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Media type:
E-Article
Title:
Mathematical Programming and Economic Theory
Contributor:
Scarf, Herbert E.
Published:
Institute for Operations Research and the Management Sciences (INFORMS), 1990
Published in:
Operations Research, 38 (1990) 3, Seite 377-385
Language:
English
DOI:
10.1287/opre.38.3.377
ISSN:
0030-364X;
1526-5463
Origination:
Footnote:
Description:
<jats:p> 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. </jats:p>