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A quadratic network optimization model for equilibrium single commodity trade flows

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Abstract

When supply and demand curves for a single commodity are approximately linear in each ofN regions and interregional transportation costs are linear, then equilibrium trade flows can be computed by solving a quadratic program of special structure. An equilibrium trade flow exists in which the routes carrying positive flow form a forest, and this solution can be efficiently computed by a tree growing algorithm.

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References

  1. C.R. Glassey, “Explicit duality for convex homogeneous programs”,Mathematical Programming 10 (1976) 176–191.

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  2. P. Samuelson, “Spatial price equilibrium and linear programming”,American Economic Review 42 (1952) 283–303.

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  3. T. Takayama and G.G. Judge,Spatial and temporal price and allocation models (North-Holland, Amsterdam, 1971).

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Glassey, C.R. A quadratic network optimization model for equilibrium single commodity trade flows. Mathematical Programming 14, 98–107 (1978). https://doi.org/10.1007/BF01588953

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  • DOI: https://doi.org/10.1007/BF01588953

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