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Kuhn-Tucker theorem foundations and its application in mathematical economics

Author

Listed:
  • Josheski, Dushko
  • Gelova, Elena

Abstract

In this paper the issue of mathematical programming and optimization has being revisited. The theory of optimization deals with the development of models and methods that determine optimal solutions to mathematical problems defined. Mathematical model must be some function of any solution that accompanies a value which is a measure of quality. In mathematics Kuhn-Tucker conditions are first order necessary conditions for a solution in non-linear programming. Under, certain specific circumstances, Kuhn-Tucker conditions are necessary and sufficient conditions as well. In this paper it is also introduced the use of these mathematical methods of optimization in economics.

Suggested Citation

  • Josheski, Dushko & Gelova, Elena, 2013. "Kuhn-Tucker theorem foundations and its application in mathematical economics," MPRA Paper 50598, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:50598
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    File URL: https://mpra.ub.uni-muenchen.de/50598/1/MPRA_paper_50598.pdf
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    More about this item

    Keywords

    Kuhn-Tucker conditions; nonlinear optimization; mathematical economics;

    JEL classification:

    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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