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The statement was first proven by Claude Berge in 1959. [1] The theorem is primarily used in mathematical economics and optimal control . Statement of theorem
The pragmatic maxim, also known as the maxim of pragmatism or the maxim of pragmaticism, is a maxim of logic formulated by Charles Sanders Peirce.Serving as a normative recommendation or a regulative principle in the normative science of logic, its function is to guide the conduct of thought toward the achievement of its purpose, advising on an optimal way of "attaining clearness of apprehension".
Two input Leontief Production Function with isoquants. In economics, the Leontief production function or fixed proportions production function is a production function that implies the factors of production which will be used in fixed (technologically predetermined) proportions, as there is no substitutability between factors.
Statements consisting only of original research should be removed. ( March 2018 ) ( Learn how and when to remove this message ) The whole of neoclassical equilibrium analysis implies that Say's law in the first place functioned to bring a market into this state: that is, Say's law is the mechanism through which markets equilibrate uniquely.
In the quest to find great investments, most investors focus on earnings to gauge a company's financial strength. This is a good start, but earnings can be misleading and incomplete. To get a ...
Pontryagin's maximum principle is used in optimal control theory to find the best possible control for taking a dynamical system from one state to another, especially in the presence of constraints for the state or input controls.
The following is the statement of the theorem in the books of Morrey and Smoller, following the original statement of Hopf (1927): Let M be an open subset of Euclidean space ℝ n. For each i and j between 1 and n, let a ij and b i be continuous functions on M with a ij = a ji. Suppose that for all x in M, the symmetric matrix [a ij] is ...