Accession Number : AD0779083

Title :   Computing the Natural Factors of a Closed Expanding Economy Model.

Descriptive Note : Research rept.,

Corporate Author : CARNEGIE-MELLON UNIV PITTSBURGH PA MANAGEMENT SCIENCES RESEARCH GROUP

Personal Author(s) : Thompson,G. L.

Report Date : FEB 1974

Pagination or Media Count : 21

Abstract : In 1956 Kemeny, Morgenstern and Thompson published a generalization of von Neumann's expanding economy model and showed that there were a finite number of economically interesting expansion factors which in turn determine subeconomies. In 1967, Hamburger, Thompson and Weil showed how to compute the maximum and minimum expansion factors. In 1970-72 Thompson and Weil provided a characterization of the factors as generalized eigenvalues. In the present paper a constructive algorithm for finding all the natural factors of the closed model is presented. It is based on finding central solutions to matrix games and an improved version of the Hamburger, Thompson, Weil technique referenced to above. (Author)

Descriptors :   *Economic models, Expansion, Linear programming, Game theory, Computations

Subject Categories : Economics and Cost Analysis

Distribution Statement : APPROVED FOR PUBLIC RELEASE