A GEOMETRIC DUALITY THEOREM WITH ECONOMIC APPLICATION.
OPERATIONS RESEARCH CENTER UNIV OF CALIF BERKELEY
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Let S be a surface in a normed linear space which is the graph of a concave function. At each point x of S there is a supporting linear function and the Duality Theorem states that there is one such function of smallest norm and this norm is equal to the steepness of the surface at x. The result is used to give economically meaningful, necessary and sufficient conditions for the validity of the Kuhn-Tucker Theorem and also to provide an estimate of the Kuhn-Tucker prices relating them to the marginal productivity of capital. Author
- Economics and Cost Analysis
- Operations Research