Titlebook: Advances in Mathematical Economics; Volume 23 Toru Maruyama Book 2020 Springer Nature Singapore Pte Ltd. 2020 Economic Theory.Finance.Proba

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1866-2226 pplying economists with indispensable machineries for these problems arising in economic theory. Conversely, mathematicians have been stimulated by various mathematical difficulties raised by economic theories.978-981-15-0715-1978-981-15-0713-7Series ISSN 1866-2226 Series E-ISSN 1866-2234

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Book 2020ith those economists who are seeking effective mathematical tools for their research. A lot of economic problems can be formulated as constrained optimizations and equilibration of their solutions. Various mathematical theories have been supplying economists with indispensable machineries for these

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https://doi.org/10.1007/978-981-15-0713-7Economic Theory; Finance; Probability; Static Economics; Stochastic Analysis

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978-981-15-0715-1Springer Nature Singapore Pte Ltd. 2020

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Kelly Laas,Michael Davis,Elisabeth Hildtthe value function is, in general, nonsmooth. Using the tools of set-valued and nonsmooth analysis, the necessary optimality conditions and sensitivity relations are derived in such a framework. We also investigate relaxation theorems and uniqueness of solutions of the Hamilton–Jacobi–Bellman equation arising in this setting.

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