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A new proof of the maximum principle

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  • Ngo Van Long
  • Koji Shimomura

Abstract

We offer a new proof of the maximum principle, by using the envelope theorem that is frequently used in the standard microeconomic theory. Copyright Springer-Verlag Berlin Heidelberg 2003

Suggested Citation

  • Ngo Van Long & Koji Shimomura, 2003. "A new proof of the maximum principle," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 22(3), pages 671-674, October.
    • Handle: RePEc:spr:joecth:v:22:y:2003:i:3:p:671-674
    DOI: 10.1007/s00199-002-0313-8
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    References listed on IDEAS

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    1. Léonard,Daniel & Long,Ngo van, 1992. "Optimal Control Theory and Static Optimization in Economics," Cambridge Books, Cambridge University Press, number 9780521331586.
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    Cited by:

    1. Caliendo Frank N. & Guo Nick L., 2014. "Optimal Control Problems with State Specific Jumps in the State Equation," Mathematical Economics Letters, De Gruyter, vol. 1(2-4), pages 1-8, July.

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    More about this item

    Keywords

    Keywords and Phrases: Maximum principle; Envelope theorem.; JEL Classification Numbers: C 61.;
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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