The Envelope Theorems
December 19, 1999 (Revised) At least three different "envelope theorems" have proved useful for economic analysis. One applies to unconstrained optimization problems with parameterized objectives and unique solutions, a second to constrained, smooth concave maximization problems in which both the objective and constraint are parameterized, and a third, which had not previously been given a general statement, to problems with parameterized objectives and any number of solutions. We state and prove the third theorem, generalize the first, and develop the precise relationship among the three.
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- Milgrom, Paul & Roberts, John, 1988. " Communication and Inventory as Substitutes in Organizing Production," Scandinavian Journal of Economics, Wiley Blackwell, vol. 90(3), pages 275-289.
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"Efficient Design with Interdependent Valuations,"
Sonderforschungsbereich 504 Publications
99-74, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
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