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Sensitivity Analysis among Commodities and Coupons during Utility Maximization

Author

Listed:
  • Mohajan, Devajit
  • Mohajan, Haradhan

Abstract

In mathematical economics utility is the vital concept. In the society utility is considered as the tendency of an object or action that increases or decreases overall happiness. This study tries to discuss sensitivity analysis during utility maximization investigation. Actually the method of Lagrange multipliers is a very useful and powerful technique in multivariable calculus. In this paper mathematical formulation of Lagrange multipliers is derived through the optimal devise. This article has taken attempts to find relations among commodities and coupons when the prices of different commodities increase or decrease.

Suggested Citation

  • Mohajan, Devajit & Mohajan, Haradhan, 2022. "Sensitivity Analysis among Commodities and Coupons during Utility Maximization," MPRA Paper 115554, University Library of Munich, Germany, revised 04 Oct 2022.
    • Handle: RePEc:pra:mprapa:115554
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    File URL: https://mpra.ub.uni-muenchen.de/115554/1/MPRA_paper_115554.pdf
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    References listed on IDEAS

    as
    1. Jamal Nazrul Islam & Haradhan Kumar Mohajan & Pahlaj Moolio, 2010. "Utility Maximization Subject to Multiple Constraints," Indus Journal of Management & Social Science (IJMSS), Department of Business Administration, vol. 4(1), pages 15-29, December.
    2. ROY, Lia & MOLLA, Rashed & MOHAJAN, Haradhan Kumar, 2021. "Cost Minimization Is Essential For The Sustainable Development Of An Industry: A Mathematical Economic Model Approach," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 21(1), pages 37-71.
    3. Mohajan, Haradhan, 2022. "Four Waves of Feminism: A Blessing for Global Humanity," MPRA Paper 114328, University Library of Munich, Germany, revised 09 Jul 2022.
    4. repec:ksb:journl:v:4:y:2011:i:1:p:116-128 is not listed on IDEAS
    5. Mohajan, Haradhan, 2011. "Greenhouse gas emissions increase global warming," MPRA Paper 50839, University Library of Munich, Germany, revised 18 Apr 2011.
    6. Jamal Nazrul Islam & Haradhan Kumar Mohajan & Pahlaj Moolio, 2009. "Political Economy and Social Welfare with Voting Procedure," KASBIT Business Journals (KBJ), Khadim Ali Shah Bukhari Institute of Technology (KASBIT), vol. 2, pages 42-66, December.
    7. Jamal NazrulIslam & Haradhan Kumar Mohajan & Pahlaj Moolio, 2011. "Output Maximization Subject to a Nonlinear Constraint," KASBIT Business Journals (KBJ), Khadim Ali Shah Bukhari Institute of Technology (KASBIT), vol. 4, pages 116-128, December.
    8. MOHAJAN, Haradhan Kumar, 2021. "Estimation Of Cost Minimization Of Garments Sector By Cobb-Douglas Production Function: Bangladesh Perspective," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 21(2), pages 247-267.
    9. Haradhan Kumar MOHAJAN, 2017. "Roles Of Communities Of Practice For The Development Of The Society," Journal of Economic Development, Environment and People, Alliance of Central-Eastern European Universities, vol. 6(3), pages 27-46, September.
    10. Mohajan, Haradhan, 2021. "Product Maximization Techniques of a Factory of Bangladesh: A Sustainable Procedure," MPRA Paper 108094, University Library of Munich, Germany, revised 15 May 2021.
    11. Haradhan Kumar MOHAJAN, 2018. "Qualitative research methodology in social sciences and related subjects," Journal of Economic Development, Environment and People, Alliance of Central-Eastern European Universities, vol. 7(1), pages 23-48, March.
    12. repec:sph:rjedep:v:3:y:2017:i:6:p:27-46 is not listed on IDEAS
    13. Mohajan, Devagit & Mohajan, Haradhan, 2022. "Profit Maximization Strategy in an Industry: A Sustainable Procedure," MPRA Paper 114675, University Library of Munich, Germany, revised 21 Jun 2022.
    14. Mohajan, Haradhan, 2017. "Optimization Models in Mathematical Economics," MPRA Paper 83185, University Library of Munich, Germany, revised 11 Apr 2017.
    15. MOHAJAN, Haradhan Kumar, 2017. "Two Criteria For Good Measurements In Research: Validity And Reliability," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 17(4), pages 59-82.
    16. Pahlaj Moolio & Jamal Nazrul Islam & Haradhan Kumar Mohajan, 2009. "Output Maximization of an Agency," Indus Journal of Management & Social Science (IJMSS), Department of Business Administration, vol. 3(1), pages 39-51, June.
    17. Mohajan, Haradhan, 2021. "Utility Maximization of Bangladeshi Consumers within Their Budget: A Mathematical Procedure," MPRA Paper 109993, University Library of Munich, Germany, revised 20 Jul 2021.
    18. Mohajan, Haradhan, 2020. "Quantitative Research: A Successful Investigation in Natural and Social Sciences," MPRA Paper 105149, University Library of Munich, Germany, revised 15 Nov 2020.
    19. Chung‐Cheng Lin & Shi‐Shu Peng, 2019. "The role of diminishing marginal utility in the ordinal and cardinal utility theories," Australian Economic Papers, Wiley Blackwell, vol. 58(3), pages 233-246, September.
    20. Mohajan, Haradhan, 2022. "Cost minimization analysis of a running firm with economic policy," MPRA Paper 114951, University Library of Munich, Germany, revised 04 May 2022.
    21. repec:ksb:journl:v:2:y:2009:i:1:p:42-66 is not listed on IDEAS
    22. Mohajan, Haradhan, 2022. "Maximum profit ensured for industry sustainability," MPRA Paper 114801, University Library of Munich, Germany, revised 15 May 2022.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Coupon constraints; Lagrange multipliers; sensitivity analysis; utility maximization;
    All these keywords.

    JEL classification:

    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
    • C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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