An Application of H\"older's Inequality to Economics
James Otterson
TL;DR
This paper demonstrates how H"older's inequality can be applied to derive economic formulas involving CES and Armington functions, simplifying the mathematical process in economic modeling.
Contribution
It introduces a novel application of H"older's inequality to derive economic formulas more straightforwardly than traditional methods.
Findings
Simplified derivations of economic formulas using H"older's inequality
Application to CES and Armington functions
Potential for broader mathematical simplifications in economics
Abstract
We use H\"older's inequality to get simple derivations of certain economic formulas involving CES, Armington, or -stage Armington functions.
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Taxonomy
TopicsStatistical Mechanics and Entropy · Mathematical and Theoretical Analysis · Complex Systems and Time Series Analysis