Nonlinear Functions of Interest to Economics. Systems of Nonlinear Equations

Wolfgang Eichhorn and Winfried Gleißner
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Wolfgang Eichhorn: Karlsruhe Institute of Technology (KIT)
Winfried Gleißner: University of Applied Sciences Landshut

Chapter 7 in Mathematics and Methodology for Economics, 2016, pp 301-371 from Springer

Abstract: Abstract This chapter introduces some important nonlinear functions: the exponential and the logarithmic functions using their functional equations. The exponential function is then used to explain compound interests. Another type of nonlinear functions are the generalized homogeneous functions and their application in production theory. The chapter ends with the investigation of nonlinear systems of equations and Banach’s fixed point theorem.

Keywords: Interest Rate; Constant Elasticity; Production Function; Production Factor; Marginal Product (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1007/978-3-319-23353-6_7

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