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A generalized envelope theorem with an application to congestion-prone facilities

Author

Listed:
  • Marvin Kraus

    (Boston College)

Abstract

A generalized envelope theorem is presented which has the Envelope Theorem as a special case. Relative to the Envelope Theorem, it provides greater flexibility in determining the rate of change of a value function with respect to one of its arguments. We revisit a classic result on economies of scale for a congestion-prone facility, using the flexibility of the Generalized Envelope Theorem to provide a simpler, more intuitive proof.

Suggested Citation

  • Marvin Kraus, 2002. "A generalized envelope theorem with an application to congestion-prone facilities," Economics Bulletin, AccessEcon, vol. 3(28), pages 1-4.
    • Handle: RePEc:ebl:ecbull:eb-02c60005
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    File URL: http://www.accessecon.com/pubs/EB/2002/Volume3/EB-02C60005A.pdf
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    Cited by:

    1. Hugo Cruz-Suárez & Raúl Montes-de-Oca, 2008. "An envelope theorem and some applications to discounted Markov decision processes," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 67(2), pages 299-321, April.

    More about this item

    Keywords

    congestible facilities;

    JEL classification:

    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling

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