Quick Search:

uzh logo
Browse by:

Zurich Open Repository and ArchiveĀ 

Permanent URL to this publication: http://dx.doi.org/10.5167/uzh-9611

Schmedders, K (2008). Numerical optimization methods in economics. In: Durlauf, S N; Blume, L E. The new Palgrave dictionary of economics, Ed. 2. New York, 4647-4666. ISBN 978-0-333-78676-5.

PDF (Original publication)


Optimization problems are ubiquitous in economics. Many of these problems are sufficiently complex that they cannot be solved analytically. Instead economists need to resort to numerical methods. This article presents the most commonly used methods for both unconstrained and constrained optimization problems in economics; it emphasizes the solid theoretical foundation of these methods, illustrating them with examples. The presentation includes a summary of the most popular software packages for numerical optimization used in economics, and closes with a description of the rapidly developing area of mathematical programs with equilibrium constraints, an area that shows great promise for numerous economic applications.

Item Type:Book Section, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Business Administration
DDC:330 Economics
Deposited On:09 Feb 2009 13:11
Last Modified:09 Jul 2012 03:32
Publisher:Palgrave Macmillan
Publisher DOI:doi:10.1057/9780230226203.1209
Related URLs:https://biblio.unizh.ch/F/?local_base=UZH01&con_lng=GER&func=find-b&find_code=SYS&request=001707564
Citations:Google Scholarā„¢

Users (please log in): suggest update or correction for this item

Repository Staff Only: item control page