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A LINEAR PROGRAMMING SOLUTION TO SOME MARKET ALLOCATION PROBLEMS
Author(s) -
Piggott Roley R.
Publication year - 1975
Publication title -
australian journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.683
H-Index - 49
eISSN - 1467-8489
pISSN - 0004-9395
DOI - 10.1111/j.1467-8489.1975.tb00142.x
Subject(s) - linear programming , mathematical optimization , linear fractional programming , revenue , constraint (computer aided design) , net (polyhedron) , marginal revenue , set (abstract data type) , function (biology) , zero (linguistics) , computer science , mathematics , economics , finance , linguistics , philosophy , geometry , evolutionary biology , biology , programming language
Certain market allocation problems involving linear average net revenue functions can be solved by linear programming. The technique can be applied to an objective function derived from linear marginal net revenue functions, the objective being to force each marginal net revenue as near to zero as possible given the constraint set. If a particular problem is suited to a linear programming solution, researchers may prefer to use this technique rather than more sophisticated optimization methods.