An Explanation of Constrained Optimization for Economists, Paperback / softback Book

An Explanation of Constrained Optimization for Economists Paperback / softback

Description

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.

Information

  • Format: Paperback / softback
  • Pages: 504 pages, 117 figures
  • Publisher: University of Toronto Press
  • Publication Date:
  • Category: Econometrics
  • ISBN: 9781442614468

Other Formats

£47.99

£39.45

 
Free Home Delivery

on all orders

 
Pick up orders

from local bookshops

Also by Peter Morgan   |  View all