An adjustment process defined on a constraint surface with an application to Ramsey pricing |
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| Authors: | Anthony M. Marino Toshihide Mitsui |
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| Affiliation: | University of Southern California, Los Angeles, CA 90089 - 1421, USA;University of Kansas, Lawrence, KS 66045, USA |
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| Abstract: | This paper considers a gradient method algorithm which locates a local optimum of an objective function on a constraint surface. The adjustment process is applied to the problem of searching for a Ramsey optimal price vector for a monopoly firm. |
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