Economics is a science which studies human behaviours as a relationship between ends and scarce means which have alternative uses. Since economic resources are scarce, optimization forms an integral part in the study of economics. In addition, in the presence of imperfect market structure, externalities, imperfect information or public goods, the market fails to provide an efficient allocation mechanism. Optimization of economic activities provides an effective remedial measure fo...
Economics is a science which studies human behaviours as a relationship between ends and scarce means which have alternative uses. Since economic resources are scarce, optimization forms an integral part in the study of economics. In addition, in the presence of imperfect market structure, externalities, imperfect information or public goods, the market fails to provide an efficient allocation mechanism. Optimization of economic activities provides an effective remedial measure for market failures. This contributed volume collects advances in the studies of economics and optimization. Contributions cover areas on analysis of optimal allocation of economic resources, economic optimization techniques, the interface economics and optimization, optimization under market mechanism and history of development of optimization techniques. The studies assembled in this volume are dedicated to the memory of a pioneering researcher and Nobel Laureate in the field of economic optimization – Leonid Vitalyevich Kantorovich. In his 100th birthday tribute in 2012, the International Conference Mathematics, Economic, Management: Kantorovich-100 in St-Petersburg was held in his memory. Selected papers from the conference are included in this Volume. In addition, contributed papers from authors who had worked closely with Kantorovich are also contained.
