Scandinavian Working Papers in Economics

Umeå Economic Studies,
Umeå University, Department of Economics

No 892: A Brief History of Envelope Theorems in Economics: Static and Dynamic

Karl-Gustaf Löfgren ()
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Karl-Gustaf Löfgren: Department of Economics, Umeå School of Business and Economics, Postal: Umeå University, 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 most 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 and cost-benefit analyses

JEL-codes: B16; B21; B40

25 pages, August 19, 2014

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