Our contribution offers a methodological exhibition of general equilibrium models with price and quantity signals. By the application of optimal value functions the household as well as the firm behaviour is modelled. The concepts of virtual prices and virtual quantities allow us to express...

Given the production technology of a multiproduct firm, economists usually try to represent this technology by functions, namely the cost function, the revenue function and the input and output distance functions. In doing so the analysis directs the attention to the (dual)matching of quantities...

In facility layout problems, a major concern is the optimal design or remodeling of the facilities of an organization. The decision maker s objective is to arrange the facility in an optimal way, so that the interaction among functions (i.e. machines, inventories, persons) and places (i.e....

Purpose – The purpose of this paper is to solve the problem of committing electric power generators (unit commitment, UC), considering network constraints. Design/methodology/approach – The UC is first solved with a local search based meta‐heuristic, following the assumption that all...