Kuhn-Tucker Theorem Foundations and Its Basic Application in the Mathematical Economics
13 Pages Posted: 13 Oct 2013
Date Written: October 12, 2013
In this paper the issue of mathematical programming and optimization has being revisited. The theory of optimization deals with the development of models and methods that determine optimal solutions to mathematical problems defined. Mathematical model must be some function of any solution that accompanies a value which is a measure of quality. In mathematics Kuhn-Tucker conditions are first order necessary conditions for a solution in non-linear programming. Under, certain specific circumstances, Kuhn-Tucker conditions are necessary and sufficient conditions as well. In this paper it is also introduced the use of these mathematical methods of optimization in economics.
Keywords: Kuhn-Tucker conditions, nonlinear optimization, mathematical economics
JEL Classification: C60, C61
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