Mathematical Optimization and Economic Theory

Mathematical Optimization and Economic Theory provides a self-contained introduction to and survey of mathematical programming and control techniques and their applications to static and dynamic problems in economics, respectively. It is distinctive in showing the unity of the various approaches to solving problems of constrained optimization that all stem back directly or indirectly to the method of Lagrange multipliers. It also covers in-depth both static programming problems and dynamic control problems of optimization and the techniques of their solution. It also clearly presents many applications of these techniques to economics, and shows why optimization is important for economics. Many challenging problems for both students and researchers are included.