You are not currently logged in.
Access JSTOR through your library or other institution:
If You Use a Screen ReaderThis content is available through Read Online (Free) program, which relies on page scans. Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
A Price Schedules Decomposition Algorithm for Linear Programming Problems
Vol. 41, No. 5 (Sep., 1973), pp. 965-980
Published by: The Econometric Society
Stable URL: http://www.jstor.org/stable/1913817
Page Count: 16
You can always find the topics here!Topics: Prices, Algorithms, Optimal solutions, Economic resources, Principal place of business, Objective functions, Economic systems, Linear programming, Mathematical vectors, Price level changes
Were these topics helpful?See something inaccurate? Let us know!
Select the topics that are inaccurate.
Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Preview not available
It is known that prices only cannot usually be utilized to coordinate a linear economic system. This paper considers a linear economic system, formally represented as a linear programming model which is interpreted as a resource-allocation problem. An algorithm founded on the idea of associating with each resource a linearly increasing price schedule rather than a constant price is developed. The paper hence demonstrates that a mechanism rather similar to a pure price mechanism can be used both to find and sustain an optimal allocation of resources in a linear economic system.
Econometrica © 1973 The Econometric Society