Proper Efficiency and the Theory of Vector Maximization.

A. M. Geoffrion

ResearchPublished 1967

A redefinition of the fundamental concept of efficiency to eliminate certain anomalous situations. The resulting new definition, called "proper" efficiency, is related to the notion of proper efficiency introduced by Kuhn and Tucker in 1950. However, the present definition avoids some of the drawbacks inherent in the earlier one. A comprehensive theory of vector maximization is constructed using the new definition, with and without various constraint qualification, convexity, and differentiability assumptions. The theory includes as a special case the standard theory of nonlinear programming. 30 pp. Ref

Document Details

  • Copyright: RAND Corporation
  • Availability: Web Only
  • Year: 1967
  • Pages: 30
  • Document Number: RM-5454-PR

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Geoffrion, A. M., Proper Efficiency and the Theory of Vector Maximization. Santa Monica, CA: RAND Corporation, 1967. https://www.rand.org/pubs/research_memoranda/RM5454.html.
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