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 all families of optimal value functions can produce them. The paper is driven by curiosity, but hopefully it will give the reader some new insights.Envelope theorems; names and history; value functions

Löfgren, Karl-Gustaf

English

Research Papers in Economics

(1894) Untersuchungen zur Variations- Rechnung,

A History of Economic Theory: Classic Contributions 1720-1980, Baltimore: Johns Hopkins. 20 Oniki, H.(1971) Comparative Dynamics (Sensivity Analysis) in Optimal Control Theory,

A Mathematical Theory of Saving,

A Revision of the Comparative Static Terminology in Economics, or, How to do Comparative Statics on the Back of an Envelope,

Advanced Calculus,

Co-state Variables Correctly Value Stocks at Each Instant of Time,

Cost and Production Functions,

Derivatives and Subderivatives of the Optimal Value Function

Dynamics with Envelope Methods in Variational Calculus,

Edgeworth Taxation Paradox and the Nature of Demand and Supply Functions,

Evaluating Project in a Dynamic Economy: Some New Envelope Results,

Foundations of Economic Analysis, Cambridge:

Introduction to Calculus and Analysis (volume2)New York: John Wiley and Sons.

Introduction to Zermelo’s

Investigation on the Theory of Brownian Motion,

Kostentheoretisches zum Monopolproblem,

La Distribution Du Revenu Entre Les Divers Biens,

On Differentiability with Respect to Parameter of Solutions to Convex Optimal Control Problems Subject to State Space Constraints,

Optimal Control Theory with Economic Applications,

Properties of the Optimal Value Function in Control Theory,

Public Investment and The Rate of Return,

Really Pushing the Envelope: Early Use of the Envelope Theorem by Auspitz and Lieben,

Stochastic Cost Benefit Rules: A Back of the Lottery Ticket Calculation Method, Umeå Economic Studies,

The Envelope Theorem in Dynamic Optimization,

The Law of Decreasing Costs,

The Structure of Economics: A Mathematical Analysis,

Theorie de la Speculation, Annales l’Ecole

to do Comparative Dynamics on the Back of an Envelope in Optimal Control Theory,

Über eine Schlussweisse aus dem Endlichen ins Uendliche, Acta Sci.

On Envelope Theorems in Economics: Inspired by a Revival of a Forgotten Lecture

http://www.econ.umu.se/DownloadAsset.action?contentId=166976&languageId=3&assetKey=ues830

On Envelope Theorems in Economics: Inspired by a Revival of a Forgotten Lecture

Abstract

Similar works

Full text

Available Versions

Research Papers in Economics