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Duality for quasi‐concave programs with application to economics

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  • T. R. Jefferson
  • G. M. Folie
  • C. H. Scott

Abstract

A duality theory is developed for mathematical programs with strictly quasi‐concave objective functions to be maximized over a convex set. This work broadens the duality theory of Rockafellar and Peterson from concave (convex) functions to quasi‐concave (quasi‐convex) functions. The theory is closely related to the utility theory in economics. An example from economic planning is examined and the solution to the dual program is shown to have the properties normally associated with market prices.

Suggested Citation

  • T. R. Jefferson & G. M. Folie & C. H. Scott, 1979. "Duality for quasi‐concave programs with application to economics," Naval Research Logistics Quarterly, John Wiley & Sons, vol. 26(4), pages 611-625, December.
    • Handle: RePEc:wly:navlog:v:26:y:1979:i:4:p:611-625
    DOI: 10.1002/nav.3800260406
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