Linear Programming and Economic Analysis

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Courier Corporation, 1958 - Mathematics - 525 pages
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Designed primarily for economists and those interested in management economics who are not necessarily accomplished mathematicians, this text offers a clear, concise exposition of the relationship of linear programming to standard economic analysis. The research and writing were supported by The RAND Corporation in the late 1950s.
Linear programming has been one of the most important postwar developments in economic theory, but until publication of the present volume, no text offered a comprehensive treatment of the many facets of the relationship of linear programming to traditional economic theory. This book was the first to provide a wide-ranging survey of such important aspects of the topic as the interrelations between the celebrated von Neumann theory of games and linear programming, and the relationship between game theory and the traditional economic theories of duopoly and bilateral monopoly.
Modern economists will especially appreciate the treatment of the connection between linear programming and modern welfare economics and the insights that linear programming gives into the determinateness of Walrasian equilibrium. The book also offers an excellent introduction to the important Leontief theory of input-output as well as extensive treatment of the problems of dynamic linear programming.
Successfully used for three decades in graduate economics courses, this book stresses practical problems and specifies important concrete applications.

 

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Contents

The Statical Leontief System Continued
230
Dynamic Aspects of Linear Models
265
Efficient Programs of Capital Accumulation
309
Linear Programming and the Theory of General Equilibrium
346
Linear Programming and Welfare Economics
390
Elements of Game Theory
417
Interrelations between Linear Programming and Game
446
Chance Utility and Game Theory
465
Bibliography
507
Index
513
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About the author (1958)

Professor Paul A. Samuelson, founder of the renowned MIT graduate department of economics, was trained at the University of Chicago and Harvard. His many scientific writings brought him world fame at a young age, and in 1970 he was the first American to receive a Nobel Prize in economics. One of those rare scientists who can communicate with the lay public, Professor Samuelson wrote an economics column for Newsweek for many years. He testifies often before Congress, serves as academic consultant to the Federal Reserve, the U.S. Treasury, and various private, nonprofit organizations, and was economic advisor to American presidents including John F. Kennedy

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