Free Access

Mathematical Programming and Economic Theory

Herbert E. Scarf
Herbert E. Scarf
Yale University, New Haven, Connecticut
Search for more papers by this author

Herbert E. Scarf

Yale University, New Haven, Connecticut

Search for more papers by this author

Published Online:1 Jun 1990https://doi.org/10.1287/opre.38.3.377

Cited by
- Demand Biasing and Virtual Bidding Can Lead to Suboptimal Unit Commitment Under Uncertainty
  IEEE Transactions on Energy Markets, Policy and Regulation, Vol. 4, No. 2
- Complementary Agents in Convex Production Under a New Cooperative Game Framework
  25 February 2026 | Computational Economics, Vol. 7
- A three-level meta-frontier directional distance function approach for carbon emission efficiency analysis in China: convexity versus non-convexity
  13 February 2024 | International Journal of Production Research, Vol. 62, No. 18
- Sequential pricing of electricity
  Energy Economics, Vol. 137
- A computationally efficient approach to optimizing offers in centrally committed electricity markets
  European Journal of Operational Research, Vol. 317, No. 1
- Rethinking the Price Formation Problem–Part 1: Participant Incentives Under Uncertainty
  IEEE Transactions on Energy Markets, Policy and Regulation, Vol. 1, No. 4
- Estimating Returns to Scale of Two-Stage Network Technologies Using Total Scale Elasticity by Considering the Intermediate Output
  25 November 2022 | International Journal of Information Technology & Decision Making, Vol. 22, No. 04
- Long-run optimal pricing in electricity markets with non-convex costs
  European Journal of Operational Research, Vol. 307, No. 1
- What Duality Theory Tells Us About Giving Market Operators the Authority to Dispatch Energy Storage
  1 May 2023 | The Energy Journal, Vol. 44, No. 3
- Fast computation of global solutions to the single-period unit commitment problem
  29 November 2019 | Journal of Combinatorial Optimization, Vol. 44, No. 3
- A survey comparing centralized and decentralized electricity markets
  Energy Strategy Reviews, Vol. 40
- Topology of the Input Spaces, Complementarity and Marginal Contribution
  SSRN Electronic Journal, Vol. 121
- Values of N-Person Non-Atomic Measure Games with Indivisibility and Complementarity
  SSRN Electronic Journal, Vol. 2
- How Climate-Related Policy Affects the Economics of Electricity Generation
  15 February 2021 | Current Sustainable/Renewable Energy Reports, Vol. 8, No. 1
- A Bienstock–Zuckerberg-Based Algorithm for Solving a Network-Flow Formulation of the Convex Hull Pricing Problem
  IEEE Transactions on Power Systems, Vol. 35, No. 3
- Optimal Pricing in Markets with Nonconvex Costs
  Navid Azizan,
  Yu Su,
  Krishnamurthy Dvijotham,
  Adam Wierman
  4 March 2020 | Operations Research, Vol. 68, No. 2
- Another Step Towards Equilibrium Offers in Unit Commitment Auctions with Nonconvex Costs: Multi-Firm Oligopolies
  1 November 2019 | The Energy Journal, Vol. 40, No. 6
- Pricing in non-convex markets with quadratic deliverability costs
  Energy Economics, Vol. 80
- An exact solution method for binary equilibrium problems with compensation and the power market uplift problem
  European Journal of Operational Research, Vol. 266, No. 2
- Endogenous Firm Dynamics and Labor Flows via Heterogeneous Agents ✶ ✶Support from the John D. and Catherine T. MacArthur Foundation, the National Science Foundation (0738606), the Small Business Administration (SBAHQ-05-Q-0018), and the Mercatus Center at George Mason is gratefully acknowledged. I have no relevant or material financial interests that relate to the research described in this paper or the associated model. Earlier versions of this work were presented at research institutions (Aix-en-Provence, Arizona State, Brookings, Carnegie Mellon, Emory, Esalen, Essex, George Mason, Georgia, Georgia Tech, James Madison, Leicester, Leiden, Limerick, Nanyang Technological University, New School for Social Research, Office of Financial Research, Oxford, Queen Mary and Westfield, Sant' Anna (Pisa), Santa Fe Institute, Turino) and conferences (Eastern Economic Association, INFORMS, Society for Computational Economics, Southern Economic Association) where comments from attendees yielded significant improvements. For helpful feedback on the manuscript I am grateful to Zoltan Acs, Luis Amaral, Brian Arthur, David Audretsch, Bob Axelrod, Bob Ayres, Eric Beinhocker, Margaret Blair, Pete Boettke, David Canning, Kathleen Carley, John Chisholm, Alex Coad, Herbert Dawid, Art DeVany, Bill Dickens, Kathy Eisenhardt, Joshua Epstein, Doyne Farmer, Rich Florida, Duncan Foley, Xavier Gabaix, Chris Georges, Herb Gintis, Joe Harrington, John Holland, Stu Kauffman, Steve Kimbrough, Paul Kleindorfer, Blake LeBaron, Axel Leijonhufvud, Bob Litan, Francesco Luna, Jim March, Michael Maouboussin, Greg McRae, Benoit Morel, Scott Moss, Paul Omerod, J. Barkley Rosser Jr., Martin Shubik, Gene Stanley, Dan Teitelbaum, Leigh Tesfatsion, Sid Winter and several people who are no longer with us: Per Bak, Michael Cohen, Ben Harrison, Steve Klepper, Sam Kotz, and Benoit Mandelbrot. The late Herb Simon inspired and encouraged the work. Anna Nelson and Omar Guerrero each advanced the work through their Ph.D. dissertations. Thanks are due Miles Parker and Gabriel Balan for implementing the model in Java, first in Ascape and then in Mason. Errors are my own.
- Central- versus Self-Dispatch in Electricity Markets
  SSRN Electronic Journal, Vol. 59
- Optimal Pricing in Markets with Non-Convex Costs
  SSRN Electronic Journal, Vol. 214
- Indivisibilities in the Ricardian model of trade
  Economic Modelling, Vol. 63
- European day-ahead electricity market clearing model
  Electric Power Systems Research, Vol. 140
- Commitment Cost Allocation of Fast-Start Units for Approximate Extended Locational Marginal Prices
  IEEE Transactions on Power Systems, Vol. 31, No. 6
- Critical Review of Pricing Schemes in Markets with Non-Convex Costs
  George Liberopoulos,
  Panagiotis Andrianesis
  22 January 2016 | Operations Research, Vol. 64, No. 1
- An Exact Solution Method for Binary Equilibrium Problems with Compensation and the Power Market Uplift Problem
  SSRN Electronic Journal, Vol. 60
- Decomposing technical efficiency and scale elasticity in two-stage network DEA
  European Journal of Operational Research, Vol. 233, No. 3
- Decomposing Efficiency and Returns to Scale in Two-Stage Network Systems
  1 February 2014
- Non-parametric measurement of economies of scale and scope in non-competitive environment with price uncertainty
  Omega, Vol. 41, No. 1
- Do Centrally Committed Electricity Markets Provide Useful Price Signals?
  1 October 2012 | The Energy Journal, Vol. 33, No. 4
- Pricing Non-Convexities in an Electricity Pool
  IEEE Transactions on Power Systems, Vol. 27, No. 3
- Varieties of agents in agent-based computational economics: A historical and an interdisciplinary perspective
  Journal of Economic Dynamics and Control, Vol. 36, No. 1
- Semi-Lagrangean approach for price discovery in markets with non-convexities
  European Journal of Operational Research, Vol. 214, No. 2
- Market-based control mechanisms for electric power demand response
- A Partitioning Method that Generates Interpretable Prices for Integer Programming Problems
  20 May 2010
- Average shadow price and equilibrium price: A case study of tradable pollution permit markets
  European Journal of Operational Research, Vol. 196, No. 3
- Equilibrium prices supported by dual price functions in markets with non-convexities
  European Journal of Operational Research, Vol. 190, No. 3
- THE ALLOCATION OF SURPLUS BY MARKETS: A FRAMEWORK FOR ANALYSIS
  21 November 2011 | International Journal of Modern Physics C, Vol. 19, No. 08
- Reflections about pseudo-dual prices in combinatorial auctions
  21 December 2017 | Journal of the Operational Research Society, Vol. 58, No. 12
- Technological spillovers within multi-region models: Intertemporal optimization beyond the Negishi approach
  Economic Modelling, Vol. 24, No. 2
- The unreasonable ineffectiveness of mathematics in economics
  1 November 2005 | Cambridge Journal of Economics, Vol. 29, No. 6
- Efficient market-clearing prices in markets with nonconvexities
  European Journal of Operational Research, Vol. 164, No. 1
- Production Games and Price Dynamics
- Rights and Decentralized Computation
  25 May 2004 | Metroeconomica, Vol. 55, No. 2-3
- The Desirable Organizational Structure for Evolutionary Firms in Static Landscapes
  25 May 2004 | Metroeconomica, Vol. 55, No. 2-3
- Introduction and Overview
- The Allocation of Resources in the Presence of Indivisibilities
  Journal of Economic Perspectives, Vol. 8, No. 4
- Discrete plant-location decisions in an applied general-equilibrium model of trade liberalization
  Weltwirtschaftliches Archiv, Vol. 130, No. 1
- Chapter 8 Energy policy applications of operations research
- Cost effectiveness/utility analyses
  Journal of Health Economics, Vol. 11, No. 3
- Arbitrage, Rationality, and Equilibrium
- Arbitrage, rationality, and equilibrium
  Theory and Decision, Vol. 31, No. 2-3

Volume 38, Issue 3

May-June 1990

Pages 374-566

Article Information

Metrics

Information

Published Online:June 01, 1990

Cite as

Herbert E. Scarf, (1990) Mathematical Programming and Economic Theory. Operations Research 38(3):377-385.

https://doi.org/10.1287/opre.38.3.377

Keywords

PDF download

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Mathematical Programming and Economic Theory

Volume 38, Issue 3

Article Information

Metrics

Information

Cite as

Keywords

Sign Up for INFORMS Publications Updates and News