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Novel insights into the multiplier rule

Author

Listed:
  • Brinkhuis, J.
  • Protassov, V.

Abstract

We present the Lagrange multiplier rule, one of the basic optimization methods, in a new way. Novel features include: • Explanation of the true source of the power of the rule: reversal of tasks, but not the use of multipliers. • A natural proof based on a simple picture, but not the usual technical derivation from the implicit function theorem. • A practical method to avoid the cumbersome second order conditions. • Applications from various areas of mathematics, physics, economics. • Some hnts on the use of the rule.

Suggested Citation

  • Brinkhuis, J. & Protassov, V., 2005. "Novel insights into the multiplier rule," Econometric Institute Research Papers EI 2005-39, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
    • Handle: RePEc:ems:eureir:7026
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