Scandinavian Working Papers in Economics

Umeå Economic Studies,
Umeå University, Department of Economics

No 830: On Envelope Theorems in Economics: Inspired by a Revival of a Forgotten Lecture

Karl-Gustaf Löfgren ()
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Karl-Gustaf Löfgren: Department of Economics, Umeå University, Postal: S 901 87 Umeå, Sweden

Abstract: 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.

Keywords: Envelope theorems; names and history; value functions

JEL-codes: B16; B21; B40

20 pages, September 16, 2011

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