Scarf Type Algorithms
Citing Scarf (1973), one of the major triumphs of mathematical economics has been the proof of the existence of a solution for the neoclassic model of economic equilibrium. When cast in a mathematical form the general equilibrium model becomes a system of simultaneous equations and inequalities so complex that the existence of a solution can be guaranteed only by an appeal to fixed point theorems rather than by more elementary and constructively oriented techniques.
KeywordsZero Point Piecewise Linear Approximation Intersection Theorem Piecewise Linear Path Ratio Vector
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