Naslov
Application of Basic Mathematical Inequalities to Selected Problems in Economics

Autori
Kojić, Vedran

Vrsta, podvrsta i kategorija rada
Sažeci sa skupova, sažetak, znanstveni

Izvornik
Proceedings of the 16th International Symposium on Operational Research in Slovenia / Zadnik Stirn, Lidija ; Kljajić Borštar, Mirjana ; Žerovnik, Janez ; Drobne, Samo ; Povh, Janez - Ljubljana : Slovensko društvo informatika, 2021, 4-4

ISBN
978-961-6165-57-0

Skup
16th International Symposium on Operations Research (SOR ’21)

Mjesto i datum
Bled, Slovenija, 22.09.2021. - 24.09.2021

Vrsta sudjelovanja
Pozvano predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
optimization ; non-calculus method ; mathematical inequalities ; economics ; mathematical education

Sažetak
Although differential calculus is a powerful and often inevitable technique for solving numerous optimization problems, it is not always easy to implement. Therefore, many researchers propose different non-calculus methods as complementary tools in finding the optimal solution to certain problems whenever possible. In this talk, we give a short survey of an extensive research dealing with the application of mathematical inequalities when solving the economic order quantity (EOQ) inventory problems. Moreover, we present some ideas on how mathematical inequalities can be used as an easy-to-apply and simple-to- understand method to compute the global optimum, not only for EOQ models but for selected problems in microeconomics as well. We also give some guidelines for improving mathematical education by using mathematical inequalities as a non-calculus optimization method.

Izvorni jezik
Engleski

Znanstvena područja
Matematika, Ekonomija

POVEZANOST RADA