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Dynamic Economics
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Dynamic Economics: Optimization by the Lagrange Method

Gregory C. Chow

Abstract

This work provides a unified and simple treatment of dynamic economics using dynamic optimization as the main theme, and the method of Lagrange multipliers to solve dynamic economic problems. The book presents the optimization framework for dynamic economics to foster an understanding of the approach. Instead of using dynamic programming, the book chooses instead to use the method of Lagrange multipliers in the analysis of dynamic optimization because it is easier and more efficient than dynamic programming, and gives an understanding of the substance of dynamic economics better. The book trea ... More

Keywords: dynamic optimization, dynamic economics, Lagrange multipliers, economic growth, macroeconomics, microeconomics, finance, dynamic games

Bibliographic Information

Print publication date: 1997 Print ISBN-13: 9780195101928
Published to Oxford Scholarship Online: October 2011 DOI:10.1093/acprof:oso/9780195101928.001.0001

Authors

Affiliations are at time of print publication.

Gregory C. Chow, author
Princeton University

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