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Herbert Scarf's Contributions to Economics, Game Theory and Operations Research - Volume 3: Production in Indivisibilities: A Contribution to the Theories of Large Firms (Hardcover)
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Herbert Scarf's Contributions to Economics, Game Theory and Operations Research - Volume 3: Production in Indivisibilities: A Contribution to the Theories of Large Firms (Hardcover)
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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. The volume collects Herbert Scarfs papers in the
area of Production in Indivisibilities and the Theories of Large
Firms.
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