{"product_id":"explanation-of-constrained-optimization-for-economists-1","title":"Explanation of Constrained Optimization for Economists","description":"\u003cp\u003eIn a constrained optimization problem, the decisionmaker wants to select the “optimal” choice – the one most valuable to him or her – that also meets all of the constraints imposed by the problem. Such problems are at the heart of modern economics, where the typical behavioral postulate is that a decisionmaker behaves “rationally”; that is, chooses optimally from a set of constrained choices.\u003c\/p\u003e\n\u003cp\u003eMost books on constrained optimization are technical and full of jargon that makes it hard for the inexperienced reader to gain a holistic understanding of the topic. Peter B. Morgan’s \u003cem\u003eExplanation of Constrained Optimization for Economists\u003c\/em\u003e solves this problem by emphasizing explanations, both written and visual, of the manner in which many constrained optimization problems can be solved. Suitable as a textbook or a reference for advanced undergraduate and graduate students familiar with the basics of one-variable calculus and linear algebra, this book is an accessible, user-friendly guide to this key concept.\u003c\/p\u003e","brand":"University of Toronto Press","offers":[{"title":"Default Product","offer_id":54251259199832,"sku":"9781442646537","price":141.99,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0278\/1295\/4195\/files\/9781442646537__676f6d19d0a80.jpg?v=1741159366","url":"https:\/\/agendabookshop.com\/products\/explanation-of-constrained-optimization-for-economists-1","provider":"Agenda Bookshop","version":"1.0","type":"link"}