Scientific Papers

JOURNAL OF INTERNATIONAL STUDIES


© CSR, 2008-2013
ISSN: 2306-3483 (Online), 2071-8330 (Print)

1.10
2017CiteScore
 
72nd percentile
Powered by  Scopus



Directory of Open Access Journals (DOAJ)


Strike Plagiarism

Partners

A new simple algorithm for solution of optimization problems

Vol. 11, No 2, 2018

 

Jeyhun Abbasov

 

Central Bank of Azerbaijan, Senior Economist,

Institute of Control Systems of ANAS, Doctorate,

Azerbaijan State University of Economics, International Graduate and Doctorate Center, Lecturer,

Baku Engineering University, World Economy Department, Lecturer,

Baku, Azerbaijan

ceyhunabbasoglu@gmail.com

 

 

A new simple algorithm for solution of optimization problems

 

 

 

 


 

 

 

 

 

 

 

Abstract. This paper is devoted to developing a new sample algorithm after the solution of optimization problems subject to a budget constraint in firms’ production. In the calculation of the optimal composition of different items, there is one fundamental problem. In general, firm’s behaviors are under a budget constraint and they always try to optimally allocate their resources among production factors. It is possible that there are some production factors like quality of labor force which influence firm’s production after some period. In this case, when we want to solve optimization problems for these firms, we can encounter that the objective function (Revenue function, Production function or some other) of the optimization problem depends on the lags of the mentioned production factors. Therefore, the realization of the allocation of firm’s resources among the production factors doesn't seem plausible (because some of them are on the lags). In this context, we have tried to prepare a simple algorithm for optimal allocation of firm’s resources in the same period, using an optimal share which has been found for different lags of variables.

 

 

Received: November, 2017

1st Revision: February, 2018

Accepted: April, 2018

 

DOI: 10.14254/2071-8330.2018/11-2/7

 

JEL ClassificationC5, C6, E6

KeywordsOptimization problem, production function, optimal allocation, lag effect in optimization