On Solving Optimization Problems Subject to a Budget Constraint with Economies of Scale,
Abstract
This paper describes a finite procedure for locating a global minimum of a problem which is linear in the objective and constraints except for one nonlinear constraint which is of the reverse convex variety. That is, the direction of the inequality is the opposite of that required for a convex constraint. Budget constraints in which the cost functions are subject to economies of scale are typically of this form. An illustrative example of the procedure is provided. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Oct 01, 1974
- Accession Number
- ADA019352
Entities
People
- R. J. Hillestad
Organizations
- RAND Corporation