Abstract
The general equilibrium model is approximated as a piecewise linear convex model and solved from the point of view of welfare economics using linear programming and fixed point methods.
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This research was supported in part by Army Research Office-Durham Contract DAAG-29-74-C-0032, NSF Grant MPS-72-04832-A03, and Energy Research and Development Administration Contract E(04-3)-326 PA#18.
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Dantzig, G.B., Eaves, B.C. & Gale, D. An algorithm for a piecewise linear model of trade and production with negative prices and bankruptcy. Mathematical Programming 16, 190–209 (1979). https://doi.org/10.1007/BF01582108
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DOI: https://doi.org/10.1007/BF01582108