Extrema of Smooth Functions - with Examples from Economic Theory

El-Hodiri, Mohamed Ali

ISBN 10: 0387543074 / ISBN 13: 9780387543079

Published by New York: Springer-Verlag, 1991

About this Item

Near fine printed cloth copy. Slightest suggestion only of dust-dulling and rubbing to the panel edges. Remains uncommonly well-preserved overall; tight, bright, clean and strong. ; 195 pages; Description: xii, 195 p. : ill. ; 25 cm. Includes bibliographical references (p. [189]-195) . Subjects: Mathematical optimization. 1 Kg. Seller Inventory # 14892

Bibliographic Details

Title: Extrema of Smooth Functions - with Examples ...

Publisher: New York: Springer-Verlag

Publication Date: 1991

Binding: Hardcover

Edition: First Edition.

About this title

Synopsis:

It is not an exaggeration to state that most problems dealt with in economic theory can be formulated as problems in optimization theory. This holds true for the paradigm of "behavioral" optimization in the pursuit of individual self interests and societally efficient resource allocation, as well as for equilibrium paradigms where existence and stability problems in dynamics can often be stated as "potential" problems in optimization. For this reason, books in mathematical economics and in mathematics for economists devote considerable attention to optimization theory. However, with very few exceptions, the reader who is interested in further study is left with the impression that there is no further place to go to and that what is in these second hand sources is all these is available as far as the subject of optimization theory is concerned. On the other hand the main results from mathematics are often carelessly stated or, more often than not, they do not get to be formally stated at all. Furthermore, it should be well understood that economic theory in general and, mathematical economics in particular, must be classified as special types of applied mathematics or, more precisely, of motivated mathematics since tools of mathematical analysis are used to prove theorems in an economics context in the manner in which probability theory may be classified. Hence, rigor and correct scholarship are of utmost importance and can not be subject to compromise.