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Mathematical Programming and Economic Theory

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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.

Suggested Citation

  • Herbert E. Scarf, 1989. "Mathematical Programming and Economic Theory," Cowles Foundation Discussion Papers 930, Cowles Foundation for Research in Economics, Yale University.
    • Handle: RePEc:cwl:cwldpp:930
    Note: CFP 763.
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    References listed on IDEAS

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    1. Tjalling C. Koopmans & Martin J. Beckmann, 1955. "Assignment Problems and the Location of Economic Activities," Cowles Foundation Discussion Papers 4, Cowles Foundation for Research in Economics, Yale University.
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