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A Brief History of Envelope Theorems in Economics: Static and Dynamic

Author

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  • Löfgren, Karl-Gustaf

    (Department of Economics, Umeå School of Business and Economics)

Abstract

This paper studies how envelope theorems have been used in Economics, their history and also who first introduced them. The existing literature is full of them and the reason is that most families of optimal value functions can produce them. The paper is driven by curiosity, but hopefully it will give the reader some new insights.

Suggested Citation

  • Löfgren, Karl-Gustaf, 2014. "A Brief History of Envelope Theorems in Economics: Static and Dynamic," Umeå Economic Studies 892, Umeå University, Department of Economics.
    • Handle: RePEc:hhs:umnees:0892
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    More about this item

    Keywords

    Envelope theorems; names and history; value functions and cost-benefit analyses;
    All these keywords.

    JEL classification:

    • B16 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Quantitative and Mathematical
    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General

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