Format:
1 online resource (208 pages)
Edition:
1st ed.
ISBN:
9780415313162
,
9781317833635
Content:
One of the fundamental economic problems is one of making the best use of limited resources. As a result, mathematical optimisation methods play a crucial role in economic theory
Note:
Cover -- Half Title -- Title Page -- Copyright Page -- Original Title Page -- Original Copyright Page -- Table of Contents -- Preface -- Introduction -- 1 The Formulation of Linear Models -- 1.1 Programming problems -- 1.2 A first linear model: Example A -- 1.3 A further model: Example B -- 1.4 A third model: Example C -- 1.5 Exercises -- 1.6 The components of the linear model -- 1.7 Slack and surplus variables -- standard forms -- 1.8 Exercises -- 1.9 The general linear model: some notation and properties -- 1.10 Some practical aspects of model-building -- 2 Solving Linear Models -- 2.1 Algorithms and electronic computers -- 2.2 A graphical method of solution -- 2.3 Exercises -- 2.4 Extreme points and the iterative nature of linear programming algorithms -- 2.5 Extreme points and the algorithms: some further properties -- 2.6 Exercises -- 2.7 Further reading -- 3 Duality -- 3.1 A production example: the valuation of extra supplies of inputs -- 3.2 Some further properties of these valuations -- 3.3 Exercises -- 3.4 The dual problem for Example B -- 3.5 The primal and dual problems: some general results -- 3.6 Exercises -- 3.7 On the use of the duality properties -- 3.8 Exercises -- 3.9 Further reading -- 4 More Linear Models -- 4.1 Multi-stage models -- 4.2 The choice between alternative formulations -- 4.3 Exercises -- 4.4 A Ricardian economy -- 4.5 Competitive equilibrium in the Ricardian economy -- 4.6 An adaptation of Example A -- 4.7 Exercises -- 4.8 Further reading -- 5 Production Theory: The Linear and Neoclassical Models -- 5.1 A first comparison between the neoclassical and linear models -- 5.2 Engineering economy and neoclassical production theory -- 5.3 Exercises -- 5.4 Activity analysis in the linear model -- 5.5 Marginal product in the neoclassical analysis -- 5.6 Marginal product in the linear model -- 5.7 Marginal revenue product
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10.3 A multi-period problem involving stocks -- 10.4 Investment appraisal: some theoretical results from the duality properties -- 10.5 Further reading -- Appendix A: Mathematical Prerequisites -- Appendix B: Glossary of Economic Terms -- Bibliography -- Index
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5.8 The cost function and the concept of marginal cost -- 5.9 Marginal cost in the linear model -- 5.10 Computation of these step functions for linear models -- 5.11 Exercises -- 5.12 Further reading -- 6 Optimisation over Time -- 6.1 Introduction -- 6.2 Model formulation: discrete or continuous time -- 6.3 A multi-period example in manufacturing -- 6.4 Time discounting, and an optimisation example in continuous time -- 6.5 Exercises -- 6.6 The planning horizon -- 6.7 The shifting planning horizon: an example -- 6.8 Exercises -- 6.9 Consistency in intertemporal optimisation -- 6.10 Further reading -- 7 Non-Linear Constrained Optimisation -- 7.1 Unconstrained optimisation of non-negative variables -- 7.2 Local and global optima -- 7.3 Optimisation subject to equality constraints -- 7.4 Exercises -- 7.S Equality constraints and non-negative variables -- 7.6 Exercises -- 7.7 Inequality constraints: the Kuhn-Tucker conditions -- 7.8 Exercises -- 7.9 The Kuhn-Tucker conditions: questions of necessity and sufficiency -- 7.10 Quasi-concave and quasi-convex functions -- 7.11 Further reading -- 8 Non-Linear and Integer Programming -- 8.1 Non-linear programming: some general remarks -- 8.2 Separable programming -- 8.3 Quadratic programming -- 8.4 Integer variables -- 8.5 Zero-one variables -- 8.6 Economies and diseconomies of scale -- 8.7 Indivisibilities and competitive equilibrium -- 8.8 Integer programming -- 8.9 Exercises -- 8.10 Further reading -- 9 Dynamic Programming -- 9.1 A simple example -- 9.2 A second example, having discrete alternatives -- 9.3 A multi-period example with an infinite horizon -- 9.4 The nature of dynamic programming -- 9.5 Exercises -- 9.6 Further reading -- 10 Some Further Economic Applications -- 10.1 Peak-load pricing and capacity determination -- 10.2 A simple model from inventory theory
Additional Edition:
Print version Mills, Gordon Optimisation in Economic Analysis Oxford : Taylor & Francis Group,c2003 ISBN 9780415313162
Language:
English
Keywords:
Electronic books
URL:
FULL
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