Open Access
Optimization in economies with nonconvexities
TLDR
Conditions under which the Classical Lagrangian serves as an exact penalization of a nonconvex programming of a constrained optimization problems in economics are given.Abstract:
Nonconvex optimization is becoming the fashion to solve constrained optimization problems in economics. Classical Lagrangian does not necessarily represent a nonconvex optimization problem. In this paper, we give conditions under which the Classical Lagrangian serves as an exact penalization of a nonconvex programming. This has a simple interpretation and is easy to solve. We use this Classical Lagrangian to provide su¢ cient conditions under which value function is Clarke dif"read more
Citations
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Journal ArticleDOI
Probability and measure, by Patrick Billingsley. Pp 515. £15·20. 1979. SBN 0 471 03173 9 (Wiley)
Journal ArticleDOI
A Nonsmooth Approach to Envelope Theorems
TL;DR: In this paper, a nonsmooth approach to envelope theorems applicable to a broad class of parameterized constrained nonlinear optimization problems that arise typically in economic applications with nonconvexities and/or non-smooth objectives was developed.
Journal ArticleDOI
A nonsmooth approach to envelope theorems
TL;DR: In this paper, a nonsmooth approach to envelope theorems applicable to a broad class of parameterized constrained nonlinear optimization problems that arise typically in economic applications with nonconvexities and/or non-smooth objectives was developed.
References
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Book
Perturbation Analysis of Optimization Problems
TL;DR: It is shown here how the model derived recently in [Bouchut-Boyaval, M3AS (23) 2013] can be modified for flows on rugous topographies varying around an inclined plane.
Book
Supermodularity and Complementarity
TL;DR: In this article, the authors introduce the concept of lattices, supermodular functions, and optimal decision models for cooperative games and non-cooperative games, and present a review of the literature.
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Learning About a New Technology: Pineapple in Ghana
TL;DR: In this article, the role of social learning in the diffusion of a new agri cultural technology in Ghana is investigated, using unique data on farmers' communication patterns to define each individual's information neighborhood, finding evidence that farmers adjust their inputs to align with those of their information neighbors who were surpris ingly successful in previous periods.
Journal ArticleDOI
Learning by Doing and Learning from Others: Human Capital and Technical Change in Agriculture
TL;DR: This article used household-level panel data from a nationally representative sample of rural Indian households describing the adoption and profitability of high-yielding seed varieties associated with the Green Revolution to test the implications of a model incorporating learning by doing and learning spillovers.
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Monotone comparative statics
Paul Milgrom,Chris Shannon +1 more
TL;DR: In this article, the authors derive a necessary and sufficient condition for the solution set of an optimization problem to be monotonic in the parameters of the problem, and develop practical methods for checking the condition.