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Palgrave Macmillan

Herbert Scarf's Contributions to Economics, Game Theory and Operations Research

Volume 2: Operations Research and Management

ISBN 9781137024374
Publication Date September 2013
Formats Hardcover Ebook (EPUB) Ebook (PDF) 
Publisher Palgrave Macmillan

Herbert Scarf is a highly esteemed distinguished American economist. He is internationally famous for his early epoch-making work on optimal inventory policies and his highly influential study with Andrew Clark on optimal policies for a multi-echelon inventory problem, which initiated the important and flourishing field of supply chain management. Equally, he has gained world recognition for his classic study on the stability of the Walrasian price adjustment processes and his fundamental analysis on the relationship between the core and the set of competitive equilibria (the so-called Edgeworth conjecture). Further achievements include his remarkable sufficient condition for the existence of a core in non-transferable utility games and general exchange economies, his seminal paper with Lloyd Shapley on housing markets, and his pioneering study on increasing returns and models of production in the presence of indivisibilities. All in all, however, the name of Scarf is always remembered as a synonym for the computation of economic equilibria and fixed points. In the early 1960s he invented a path-breaking technique for computing equilibrium prices.

This work has generated a major research field in economics termed Applied General Equilibrium Analysis and a corresponding area in operations research known as Simplicial Fixed Point Methods. This book comprises all his research articles and consists of four volumes. This volume collects Herbert Scarf's papers in the area of Operations Research and Management.

Professor Zaifu Yang holds a chair in Economics at the University of York, UK. He has widely published in economics, game theory, operations research and applied mathematics. His articles have appeared in Econometrica, Journal of Economic Theory, Mathematics of Operations Research, Journal of Combinatorial Theory, and SIAM Journal on Control and Optimization among other leading academic journals.

Preface; Zaifu Yang Ii
1. The Optimality of (S, S) Policies in the Dynamic Inventory Problem
2. Optimal Policies for a Multi-Echelon Inventory Problem
3. A Min-Max Solution of an Inventory Problem
4. Inventory Models of the Arrow-Harris-Marschak Type with Time Lag
5. Stationary Operating Characteristics of an Inventory Model with Time Lag
6. Inventory Models and Related Stochastic Processes
7. Approximate Solutions to a Simple Multi-Echelon Inventory Problem
8. Bayes Solutions of the Statistical Inventory Problem
9. A Survey of Analytic Techniques in Inventory Theory
10. Optimal Inventory Policies when Sales are Discretionary
11. The Shapes of Polyhedra
12. The Generalized Basis Reduction Algorithm
13. An Implementation of the Generalized Basis Reduction Algorithm for Integer Programming


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