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Production and marketing decisions with multiple objectives in a competitive environment

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Abstract

This paper presents an application of the mathematical program which has been called the Fritz John problem to a situation in applied economics. A model is presented which enables a firm to maximize profit, subject to constraints on maintenance of market share in the face of collusive action by competitors and subject to resource constraints. An example problem is formulated and solved.

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Author information

Authors and Affiliations

  1. Institute for Defense Analyses, Arlington, Virginia

    J. Bracken (Research Staff Member)

  2. University of Illinois at the Medical Center, Chicago, Illinois

    J. T. McGill (Associate Vice Chancellor)

Authors
  1. J. Bracken
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  2. J. T. McGill
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Additional information

Communicated by O. L. Mangasarian

The authors wish to acknowledge comments and suggestions offered by J. W. Blankenship and R. E. Kuenne.

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Bracken, J., McGill, J.T. Production and marketing decisions with multiple objectives in a competitive environment. J Optim Theory Appl 24, 449–458 (1978). https://doi.org/10.1007/BF00932888

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  • DOI: https://doi.org/10.1007/BF00932888

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