Formulating an objective for an economy

DOI10.1007/BF01589389MaRDI QIDQ1104223zbMATH OpenOpenAlexFDO

Authors George Dantzig, Patrick H. McAllister, John C. Stone

Publication date 1988

Published in Mathematical Programming. Series A. Series B (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/bf01589389

zbMATH Keywords

consumptioneconomic policygrowthinnovationmodernizationproductiontechnological changes

Mathematics Subject Classification ID

Nonlinear programming (90C30) Applications of mathematical programming (90C90) General equilibrium theory (91B50) Economic growth models (91B62)

Review text

The paper formulates a general equilibrium model of consumption and production over time, to be used for assessing the impact of technological changes on growth and the influence of the state of the economy and economic policy on innovation and modernization. The model is a usual Arrow-Debreu model, with minor changes. The utility functions are assumed to be quadratic-linear, and for computing the average demand functions it is hypothesised that the parameters of the utility functions are independent of the income. The main result is that one may define an average utility function for the economy in such a way that the equilibrium problem of the original economy can be solved as a nonlinear mathematical programming problem.

Recommendations

• Mathematical models of reorganization and optimization of the technological structure in the capitalist economy
• scientific article; zbMATH DE number 10683
• Optimization models in economic equilibrium
• scientific article; zbMATH DE number 4070590
• scientific article; zbMATH DE number 4209876

Cites work

• Community Preference Fields
• Complementary pivot theory of mathematical programming
• Existence of an Equilibrium for a Competitive Economy
• scientific article; zbMATH DE number 3307201 (Why is no real title available?)

Cited in

(4)

• George B. Dantzig: a legendary life in mathematical programming
• scientific article; zbMATH DE number 176285 (Why is no real title available?)
• A theoretical framework for determining the appropriate level of subsidy in an economy
• George Dantzig in the development of economic analysis

Describes a project that uses

Uses Software

• MINOS

This page was built for publication: Formulating an objective for an economy

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q1104223)