The Lagrangian, constraint qualifications and economics

Sjur D. Flåm () and Jan-J. Rückmann ()
Additional contact information
Sjur D. Flåm: University of Bergen
Jan-J. Rückmann: University of Bergen

Mathematical Methods of Operations Research, 2022, vol. 96, issue 2, No 3, 215-232

Abstract: Abstract Considering constrained choice, practitioners and theorists frequently invoke a Lagrangian to generate optimality conditions. Regular use of that vehicle requires, however, some constraint qualification. Yet many economists go easy on the mathematics of that issue. Conversely, few mathematicians elaborate on the economics of the context. Thereby both parties leave some lacunas as to didactics or intuition. This note attempts to shed some light on these matters.

Keywords: Lagrangian; Constraint qualifications; Arbitrage; minmax; Efficiency (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s00186-022-00789-7 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:mathme:v:96:y:2022:i:2:d:10.1007_s00186-022-00789-7

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/00186

DOI: 10.1007/s00186-022-00789-7

Access Statistics for this article

Mathematical Methods of Operations Research is currently edited by Oliver Stein

More articles in Mathematical Methods of Operations Research from Springer, Gesellschaft für Operations Research (GOR), Nederlands Genootschap voor Besliskunde (NGB)
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().