Mathematical Optimization and Economic Behavior

  • Sheldon S. L. Chang
Part of the Mathematical Concepts and Methods in Science and Engineering book series (MCSENG)


Dynamic optimization adds a time dimension to the study of economic behavior. While maximization of profit and utility has been the microeconomic foundation for studying supply and demand, and a general equilibrium condition is the basis for an economic system, such idealized conditions do not exist in a changing world. There is a gap between the concepts short run and long run, namely, how does one shift from one position to the other?


Interest Rate Energy Resource Application Program Economic Behavior General Good 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. 1.
    Chang, S. S. L., Theory of optimum economic growth and energy policy, Proceedings of the IEEE, Vol. 63, pp. 414–421, 1975.CrossRefGoogle Scholar
  2. 2.
    Arrow, K. J. and Kurz, M., Public Investment, the Rate of Return, and Optimal Fiscal Policy, Johns Hopkins Press, Baltimore, Md., 1973.Google Scholar
  3. 3.
    Burmeister, E. and Dobell, A. R., Mathematical Theories of Economic Growth, Macmillan, New York, 1970.Google Scholar
  4. 4.
    Arrow, K. J., The economic implications of learning by doing, Reviews of Economic Studies, Vol. 29, pp. 155–173, 1962.CrossRefGoogle Scholar
  5. 5.
    Brrrro, R., Some recent developments in the theory of economic growth: An interpretation, Journal of Economic Literature, Vol. 11, pp. 1343–1366, 1973.Google Scholar
  6. 6.
    Chang, S. S. L., A theoretical study of the investment behavior of data processing users, Third World-Congress of Econometric Society, Toronto, 1974.Google Scholar
  7. 7.
    Haavelmo, T., A Study in the Theory of Investment, University of Chicago Press, Chicago, 1960.Google Scholar
  8. 8.
    Jorgenson, D. W., The theory of investment behavior, Determinants of Investment Behavior. Edited by Robert Ferber, National Bureau of Economic Research, New York, pp. 129–155, 1967.Google Scholar

Copyright information

© Plenum Press, New York 1980

Authors and Affiliations

  • Sheldon S. L. Chang
    • 1
  1. 1.Department of Electrical SciencesState University of New YorkStony BrookUSA

Personalised recommendations