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Paperback An Explanation of Constrained Optimization for Economists Book
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ISBN: 1442614463

ISBN13: 9781442614468

An Explanation of Constrained Optimization for Economists

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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...

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Format: Paperback

Condition: New

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