An Explanation of Constrained Optimization for Economists
Seiten
2015
University of Toronto Press (Verlag)
978-1-4426-4653-7 (ISBN)
University of Toronto Press (Verlag)
978-1-4426-4653-7 (ISBN)
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Peter B. Morgan’s Explanation of Constrained Optimization for Economists is an accessible, user-friendly guide that provides explanations, both written and visual, of the manner in which many constrained optimization problems can be solved.
In a constrained optimization problem, the decisionmaker wants to select the “optimal” choice – the one most valuable to him or her – that also meets all of the constraints imposed by the problem. Such problems are at the heart of modern economics, where the typical behavioral postulate is that a decisionmaker behaves “rationally”; that is, chooses optimally from a set of constrained choices.
Most books on constrained optimization are technical and full of jargon that makes it hard for the inexperienced reader to gain a holistic understanding of the topic. Peter B. Morgan’s Explanation of Constrained Optimization for Economists solves this problem by emphasizing explanations, both written and visual, of the manner in which many constrained optimization problems can be solved. Suitable as a textbook or a reference for advanced undergraduate and graduate students familiar with the basics of one-variable calculus and linear algebra, this book is an accessible, user-friendly guide to this key concept.
In a constrained optimization problem, the decisionmaker wants to select the “optimal” choice – the one most valuable to him or her – that also meets all of the constraints imposed by the problem. Such problems are at the heart of modern economics, where the typical behavioral postulate is that a decisionmaker behaves “rationally”; that is, chooses optimally from a set of constrained choices.
Most books on constrained optimization are technical and full of jargon that makes it hard for the inexperienced reader to gain a holistic understanding of the topic. Peter B. Morgan’s Explanation of Constrained Optimization for Economists solves this problem by emphasizing explanations, both written and visual, of the manner in which many constrained optimization problems can be solved. Suitable as a textbook or a reference for advanced undergraduate and graduate students familiar with the basics of one-variable calculus and linear algebra, this book is an accessible, user-friendly guide to this key concept.
Peter B. Morgan is an associate professor in the Department of Economics at the University at Buffalo.
1. Introduction
2. Basics
3. Basics of Topology
4. Sequences and Convergence
5. Continuity
6. Hyperplanes and Separating Sets
7. Cones
8. Constrained Optimization, Part 1
9. Lagrange Functions
10. Constrained Optimization, Part 2
11. Optimal Solutions and Maximum Values
12. Comparative Statics Analysis, Part 1
13. Differentiable Comparative Statics, Part 2
Zusatzinfo | 117 figures |
---|---|
Verlagsort | Toronto |
Sprache | englisch |
Maße | 226 x 287 mm |
Gewicht | 1580 g |
Themenwelt | Mathematik / Informatik ► Mathematik ► Angewandte Mathematik |
Mathematik / Informatik ► Mathematik ► Finanz- / Wirtschaftsmathematik | |
Wirtschaft ► Betriebswirtschaft / Management | |
Wirtschaft ► Volkswirtschaftslehre ► Ökonometrie | |
ISBN-10 | 1-4426-4653-5 / 1442646535 |
ISBN-13 | 978-1-4426-4653-7 / 9781442646537 |
Zustand | Neuware |
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