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Sensitivity Analysis for Utility Maximization: A Study on Lagrange Multipliers and Commodity Coupons

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  • Mohajan, Devajit
  • Mohajan, Haradhan

Abstract

In this study sensitivity analysis among Lagrange multipliers and commodity coupons is discussed with detailed mathematical analysis. In economics, utility maximization method is essential for increasing sustainable production and profit maximization. Two types of constraints, such as budget constraint, and coupon constraint are used to operate sensitivity analysis; consequently, two Lagrange multipliers are applied for the detailed mathematical analysis.

Suggested Citation

  • Mohajan, Devajit & Mohajan, Haradhan, 2023. "Sensitivity Analysis for Utility Maximization: A Study on Lagrange Multipliers and Commodity Coupons," MPRA Paper 117077, University Library of Munich, Germany, revised 06 Jan 2023.
    • Handle: RePEc:pra:mprapa:117077
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    References listed on IDEAS

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    6. Mohajan, Haradhan, 2014. "Tuberculosis is a Fatal Disease among Some Developing Countries of the World," MPRA Paper 82851, University Library of Munich, Germany, revised 22 Jan 2015.
    7. Mohajan, Devajit & Mohajan, Haradhan, 2022. "Memo Writing Procedures in Grounded Theory Research Methodology," MPRA Paper 115246, University Library of Munich, Germany, revised 10 Aug 2022.
    8. Mohajan, Haradhan, 2018. "The Rohingya Muslims in Myanmar are Victim of Genocide!," MPRA Paper 89846, University Library of Munich, Germany, revised 15 Sep 2018.
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    13. Haradhan Kumar MOHAJAN, 2017. "Roles Of Communities Of Practice For The Development Of The Society," Journal of Economic Development, Environment and People, Alliance of Central-Eastern European Universities, vol. 6(3), pages 27-46, September.
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    15. Mohajan, Haradhan, 2014. "The Most Fatal 2014 Outbreak of Ebolavirus Disease in Western Africa," MPRA Paper 58948, University Library of Munich, Germany, revised 25 Sep 2014.
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    18. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Sensitivity Analysis for Profit Maximization with Respect to Per Unit Cost of Subsidiary Raw Materials," MPRA Paper 116538, University Library of Munich, Germany, revised 10 Jan 2023.
    19. Mohajan, Haradhan, 2011. "Greenhouse gas emissions increase global warming," MPRA Paper 50839, University Library of Munich, Germany, revised 18 Apr 2011.
    20. Mohajan, Haradhan, 2011. "Air pollution causes health effects and net national product of a country decreases: a theoretical framework," MPRA Paper 50858, University Library of Munich, Germany, revised 23 May 2012.
    21. Mohajan, Haradhan, 2016. "Global Hyperbolicity in Space-Time Manifold," MPRA Paper 83036, University Library of Munich, Germany, revised 14 Mar 2016.
    22. Mohajan, Haradhan, 2020. "Most Fatal Pandemic COVID-19 Outbreak: An Analysis of Economic Consequences," MPRA Paper 101623, University Library of Munich, Germany, revised 03 Apr 2020.
    23. Mohajan, Haradhan, 2017. "Optimization Models in Mathematical Economics," MPRA Paper 83185, University Library of Munich, Germany, revised 11 Apr 2017.
    24. Mohajan, Haradhan, 2014. "Chinese Sulphur Dioxide Emissions and Local Environment Pollution," MPRA Paper 55953, University Library of Munich, Germany, revised 06 Apr 2014.
    25. Das, Sabuj & Mohajan, Haradhan, 2014. "Mock Theta Conjectures," MPRA Paper 55821, University Library of Munich, Germany, revised 04 Apr 2014.
    26. MOHAJAN, Haradhan Kumar, 2017. "Two Criteria For Good Measurements In Research: Validity And Reliability," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 17(4), pages 59-82.
    27. Jamal Nazrul Islam & Haradhan Kumar Mohajan & Pahlaj Moolio, 2009. "Political Economy and Social Welfare with Voting Procedure," KASBIT Business Journals (KBJ), Khadim Ali Shah Bukhari Institute of Technology (KASBIT), vol. 2, pages 42-66, December.
    28. Pahlaj Moolio & Jamal Nazrul Islam & Haradhan Kumar Mohajan, 2009. "Output Maximization of an Agency," Indus Journal of Management & Social Science (IJMSS), Department of Business Administration, vol. 3(1), pages 39-51, June.
    29. Mohajan, Haradhan, 2021. "Third Industrial Revolution Brings Global Development," MPRA Paper 110972, University Library of Munich, Germany, revised 28 Sep 2021.
    30. Haradhan Kumar Mohajan, 2011. "Optimal Environmental Taxes Due to Health Effect," KASBIT Business Journals (KBJ), Khadim Ali Shah Bukhari Institute of Technology (KASBIT), vol. 4, pages 1-19, December.
    31. Mohajan, Haradhan, 2013. "Friedmann, Robertson-Walker (FRW) Models in Cosmology," MPRA Paper 52402, University Library of Munich, Germany, revised 20 Dec 2013.
    32. Jamal NazrulIslam & Haradhan Kumar Mohajan & Pahlaj Moolio, 2011. "Output Maximization Subject to a Nonlinear Constraint," KASBIT Business Journals (KBJ), Khadim Ali Shah Bukhari Institute of Technology (KASBIT), vol. 4, pages 116-128, December.
    33. Mohajan, Haradhan, 2015. "Basic Concepts of Differential Geometry and Fibre Bundles," MPRA Paper 83002, University Library of Munich, Germany, revised 18 Feb 2015.
    34. Mohajan, Haradhan, 2013. "Poverty and economic development of Kenya," MPRA Paper 51072, University Library of Munich, Germany, revised 06 Jul 2013.
    35. Mohajan, Haradhan, 2015. "Generalization of Euler and Ramanujan’s Partition Function," MPRA Paper 83049, University Library of Munich, Germany, revised 06 Nov 2015.
    36. Mohajan, Haradhan, 2013. "Global food price hike is a burden to the poor," MPRA Paper 51822, University Library of Munich, Germany, revised 05 Nov 2013.
    37. Mohajan, Haradhan, 2013. "Economic Development of Bangladesh," MPRA Paper 50663, University Library of Munich, Germany, revised 23 Sep 2013.
    38. Mohajan, Haradhan, 2014. "Improvement of Health Sector in Kenya," MPRA Paper 58420, University Library of Munich, Germany, revised 10 Aug 2014.
    39. Mohajan, Devajit & Mohajan, Haradhan, 2022. "Utility maximization analysis of an emerging firm: a bordered Hessian approach," MPRA Paper 115838, University Library of Munich, Germany, revised 25 Sep 2022.
    40. Mohajan, Haradhan, 2012. "Greenhouse Gas Emissions of the USA," MPRA Paper 50670, University Library of Munich, Germany, revised 21 Nov 2012.
    41. Mohajan, Haradhan, 2016. "An Analysis of Knowledge Management for the Development of Global Health," MPRA Paper 82959, University Library of Munich, Germany, revised 16 Aug 2016.
    42. Mohajan, Haradhan, 2022. "Mathematical Analysis of SIR Model for COVID-19 Transmission," MPRA Paper 114390, University Library of Munich, Germany, revised 10 Jul 2022.
    43. Mohajan, Haradhan, 2020. "Quantitative Research: A Successful Investigation in Natural and Social Sciences," MPRA Paper 105149, University Library of Munich, Germany, revised 15 Nov 2020.
    44. Mohajan, Haradhan, 2012. "Relation between lease finance and purchase," MPRA Paper 50681, University Library of Munich, Germany, revised 12 Feb 2012.
    45. Mohajan, Haradhan, 2013. "Ethiopia: A socio-economic study," MPRA Paper 52277, University Library of Munich, Germany, revised 10 Sep 2013.
    46. Mohajan, Haradhan, 2017. "A Brief Analysis of de Sitter Universe in Relativistic Cosmology," MPRA Paper 83187, University Library of Munich, Germany, revised 10 Jul 2017.
    47. Mohajan, Devajit & Mohajan, Haradhan, 2022. "Sensitivity Analysis among Commodities and Coupons during Utility Maximization," MPRA Paper 115554, University Library of Munich, Germany, revised 04 Oct 2022.
    48. Mohajan, Haradhan, 2022. "Cost minimization analysis of a running firm with economic policy," MPRA Paper 114951, University Library of Munich, Germany, revised 04 May 2022.
    49. MOHAJAN, Haradhan Kumar, 2018. "Analysis Of Food Production And Poverty Reduction Of Bangladesh," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 9(1), pages 191-205.
    50. MOHAJAN, Haradhan Kumar, 2020. "Covid-19 – The Most Fatal Pandemic Outbreak: An Analysis Of Economic Consequences," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 20(2), pages 127-145.
    51. Mohajan, Haradhan, 2015. "Sustainable Development Policy of Global Economy," MPRA Paper 82815, University Library of Munich, Germany, revised 30 Mar 2015.
    52. repec:ksb:journl:v:2:y:2009:i:1:p:42-66 is not listed on IDEAS
    53. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Obesity and Its Related Diseases: A New Escalating Alarming in Global Health," MPRA Paper 116797, University Library of Munich, Germany, revised 05 Feb 2023.
    54. Mahbubur RAHMAN & Haradhan Kumar MOHAJAN, 2019. "Rohingya-The Stateless Community Becoming the Lost Generation," Journal of Economic Development, Environment and People, Alliance of Central-Eastern European Universities, vol. 8(2), pages 24-36, June.
    55. repec:ksb:journl:v:4:y:2011:i:1:p:32-47 is not listed on IDEAS
    56. Mohajan, Haradhan, 2017. "Development of Einstein’s Static Cosmological Model of the Universe," MPRA Paper 83001, University Library of Munich, Germany, revised 16 Feb 2017.
    57. Mohajan, Haradhan, 2011. "Green marketing is a sustainable marketing system in the twenty first century," MPRA Paper 50857, University Library of Munich, Germany, revised 16 Feb 2012.
    58. Juster, F. Thomas, 1990. "Rethinking utility theory," Journal of Behavioral Economics, Elsevier, vol. 19(2), pages 155-179.
    59. Mohajan, Haradhan, 2013. "Food, Agriculture and Economic Situation of Bangladesh," MPRA Paper 54240, University Library of Munich, Germany, revised 18 Aug 2013.
    60. Mohajan, Haradhan, 2014. "Gravitational Collapse of a Massive Star and Black Hole Formation," MPRA Paper 83188, University Library of Munich, Germany, revised 10 Aug 2014.
    61. Das, Sabuj & Mohajan, Haradhan, 2014. "Generating Functions for X(n) and Y(n)," MPRA Paper 55685, University Library of Munich, Germany, revised 30 Jan 2014.
    62. Mohajan, Haradhan, 2016. "Singularities in Global Hyperbolic Space-time Manifold," MPRA Paper 82953, University Library of Munich, Germany, revised 16 Mar 2016.
    63. Islam, Jamal & Mohajan, Haradhan & Moolio, Pahlaj, 2011. "Borda voting is non-manipulable but cloning manipulation is possible," MPRA Paper 50848, University Library of Munich, Germany, revised 10 Jan 2012.
    64. Mohajan, Haradhan, 2021. "Product Maximization Techniques of a Factory of Bangladesh: A Sustainable Procedure," MPRA Paper 108094, University Library of Munich, Germany, revised 15 May 2021.
    65. Mohajan, Devajit & Mohajan, Haradhan, 2022. "Feminism and feminist grounded theory: a comprehensive research analysis," MPRA Paper 114914, University Library of Munich, Germany, revised 15 Jul 2022.
    66. Mohajan, Haradhan, 2021. "Global COVID-19 Pandemic: Prevention and Protection Techniques," MPRA Paper 106923, University Library of Munich, Germany, revised 19 Jan 2021.
    67. Mohajan, Haradhan, 2018. "Medical Errors Must be Reduced for the Welfare of the Global Health Sector," MPRA Paper 89644, University Library of Munich, Germany, revised 03 Sep 2018.
    68. Mohajan, Haradhan, 2022. "Maximum profit ensured for industry sustainability," MPRA Paper 114801, University Library of Munich, Germany, revised 15 May 2022.
    69. Islam, Jamal & Mohajan, Haradhan & Datta, Rajib, 2012. "Stress management policy analysis: a preventative approach," MPRA Paper 50698, University Library of Munich, Germany, revised 02 Mar 2012.
    70. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Glaserian Grounded Theory and Straussian Grounded Theory: Two Standard Qualitative Research Approaches in Social Science," MPRA Paper 117017, University Library of Munich, Germany, revised 20 Feb 2023.
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    Cited by:

    1. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Economic Aspects of Profit Maximization if Cost of Principal Raw Material Increases," MPRA Paper 117453, University Library of Munich, Germany, revised 22 Mar 2023.
    2. Mohajan, Devajit & Mohajan, Haradhan, 2023. "The Responses of an Organization for the Increase in Wage Rates: Profit Maximization Cases," MPRA Paper 118238, University Library of Munich, Germany, revised 10 Jun 2023.
    3. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Glaserian Grounded Theory and Straussian Grounded Theory: Two Standard Qualitative Research Approaches in Social Science," MPRA Paper 117017, University Library of Munich, Germany, revised 20 Feb 2023.
    4. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Economic Investigation of Lagrange Multiplier if Cost of Inputs and Budget Size of a Firm Increase: A Profit Maximization Endeavor," MPRA Paper 117993, University Library of Munich, Germany, revised 07 May 2023.
    5. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Mathematical Model for Nonlinear Budget Constraint: Economic Activities on Increased Budget," MPRA Paper 117299, University Library of Munich, Germany, revised 17 Mar 2023.
    6. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Long-Term Regular Exercise Increases V̇O2max for Cardiorespiratory Fitness," MPRA Paper 116962, University Library of Munich, Germany, revised 04 Feb 2023.
    7. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Various Problems Arise in Industrial Economics If Wage Rate Increases: A Study for Nonlinear Budget Constraint," MPRA Paper 117553, University Library of Munich, Germany, revised 04 Apr 2023.
    8. Mohajan, Devajit & Mohajan, Haradhan, 2023. "A Study on Nonlinear Budget Constraint of a Local Industrial Firm of Bangladesh: A Profit Maximization Investigation," MPRA Paper 117324, University Library of Munich, Germany, revised 27 Mar 2023.
    9. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Effects of Various Inputs for Increased Interest Rate of Capital: A Nonlinear Budget Constraint Consideration," MPRA Paper 118134, University Library of Munich, Germany, revised 06 May 2023.
    10. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Sensitivity Analysis of Inputs of an Organization: A Profit Maximization Exploration," MPRA Paper 117121, University Library of Munich, Germany, revised 12 Mar 2023.
    11. Mohajan, Devajit & Mohajan, Haradhan, 2023. "An Economical Study When Cost of Irregular Raw Materials of an Industry Increases for Nonlinear Budget Constraint," MPRA Paper 118176, University Library of Munich, Germany, revised 05 May 2023.
    12. Mohajan, Devajit & Mohajan, Haradhan, 2023. "A Study on Body Fat Percentage for Physical Fitness and Prevention of Obesity: A Two Compartment Model," MPRA Paper 117158, University Library of Munich, Germany, revised Feb 2023.
    13. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Bulimia Nervosa: A Psychiatric Problem of Disorder," MPRA Paper 117258, University Library of Munich, Germany, revised 17 Mar 2023.
    14. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Sensitivity Analysis between Lagrange Multipliers and Consumer Budget: Utility Maximization Case," MPRA Paper 116907, University Library of Munich, Germany, revised 19 Feb 2023.

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    More about this item

    Keywords

    Lagrange multipliers; commodity coupon; sensitivity analysis; utility maximization;
    All these keywords.

    JEL classification:

    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • C58 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Financial Econometrics
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

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