Application of Maximum Principles in Microeconomics
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Date
2018-03-02
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Addis Ababa University
Abstract
In this paper we use Discrete and Analytic maximum principle to show uniqueness of
solution of Dirichlet problem. We also show application of maximum principle in showing
uniqueness and stability of solution of heat equation. Finally, we also apply it in finding
optimum utility function under a given budget constraint in Microeconomics.
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Keywords
Harmonic Functions, Application to Microeconomics, Discretization of Dirichlet Problem