Optimization of Utility Functions in an Admissible Space of Higher Dimension
Keyword(s):
S. Smale published a paper where announce a theorem which optimize a several utility functions at once (cf. Smale, 1975) using Morse Theory, this is a very abstract subject that require high skills in Differential Topology and Algebraic Topology. Our goal in this paper is announce the same theorems in terms of Calculus of Manifolds and Linear Algebra, those subjects are more reachable to engineers and economists whom are concern with maximizing functions in several variables. Moreover, the elements involved in our theorems are accessible to graduate students, also we putting forward the results we consider economically relevant.
1984 ◽
Vol 391
(1801)
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pp. 231-254
2021 ◽
2000 ◽
Vol 12
(06)
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pp. 849-872
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