Convex Analysis and Mathematical Economics

Proceedings of a Symposium, Held at the University of Tilburg, February 20, 1978
Softcover Nachdruck of the original 1. Auflage 1979
ISBN: 978-3-540-09247-6
Verlag: Springer Berlin Heidelberg

Buch, Englisch, Band 168, 139 Seiten, Paperback, Format (B × H): 170 mm x 244 mm, Gewicht: 269 g

Reihe: Lecture Notes in Economics and Mathematical Systems

On February 20, 1978, the Department of Econometrics of the University of Tilburg organized a symposium on Convex Analysis and Mathematical th Economics to commemorate the 50 anniversary of the University. The general theme of the anniversary celebration was "innovation" and since an important part of the departments' theoretical work is con­ centrated on mathematical economics, the above mentioned theme was chosen. The scientific part of the Symposium consisted of four lectures, three of them are included in an adapted form in this volume, the fourth lec­ ture was a mathematical one with the title "On the development of the application of convexity". The three papers included concern recent developments in the relations between convex analysis and mathematical economics. Dr. P.H.M. Ruys and Dr. H.N. Weddepohl (University of Tilburg) study in their paper "Economic theory and duality", the relations between optimality and equilibrium concepts in economic theory and various duality concepts in convex analysis. The models are introduced with an individual facing a decision in an optimization problem. Next, an n­ person decision problem is analyzed, and the following concepts are defined: optimum, relative optimum, Nash-equilibrium, and Pareto-optimum.

Zielgruppe

Research

Autoren/Hrsg.

Kriens, J.

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Ökonometrie
• Wirtschaftswissenschaften Betriebswirtschaft Wirtschaftsmathematik und -statistik

Inhaltsverzeichnis

I. Economic Theory and Duality.- 1. Introduction.- 2. Abstract economies.- 3. Introduction to duality.- 4. An economy with public goods (only).- 5. Optimality and Nash-equilibrium.- 6. Competitive equilibrium.- 7. Intertemporal optimality.- Al. Duality operations on sets and correspondences.- A2. Dual programs.- II. The Dynamics of Concave Input/Output Processes.- 1. Input/Output processes; logic and economic relevance.- 2. Prices and dual Input/Output processes.- 3. Dynamic Input/Output processes.- 4. Invariant dynamic processes and stationary optimal trajectories.- 5. Existence of optimal trajectories in dynamic open horizon Input/Output systems and approximation by finite horizon systems.- 6. Continuity and stability of ?-horizon dynamic systems.- III. Convex Processes and Hamiltonian Dynamical Systems.