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

Karl-Gustaf Löfgren ()
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Karl-Gustaf Löfgren: Department of Economics, Umeå School of Business and Economics, Postal: Umeå University, S 901 87 Umeå, Sweden

No 892, Umeå Economic Studies from Umeå University, Department of 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.

Keywords: Envelope theorems; names and history; value functions and cost-benefit analyses (search for similar items in EconPapers)
JEL-codes: B16 B21 B40 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2014-08-19
New Economics Papers: this item is included in nep-his and nep-hpe
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