Shapley–Folkman lemma
Lema de Shapley–Folkman
- Date
- 1969 · confidence medium
- Place
- Stanford, California, United States
- Credited to
- Published by economist Ross M. Starr in 1969, based on an unpublished result by Lloyd Shapley and Jon Folkman.
- Field
- Knowledge & symbols
What was discovered
Result in convex geometry about the Minkowski sum of sets: if the number of summed sets exceeds the dimension of the space, the resulting sum is approximately convex, even if the original sets are not.
What it led to
- Mathematical justification for approximate convexity in economies with many agents
- Applications in non-convex general equilibrium theory
- Use in large-scale combinatorial optimization