文章基本信息

标题：On the Gradient-Hamiltonian Systems to the Derivation of Economic Multivariate Total Functions
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作者：John Awuah Addor ; Kwadwo Ankomah ; Emmanuel Benson 等
期刊名称：Asian Journal of Economics, Business and Accounting
印刷版ISSN：2456-639X
出版年度：2017
卷号：2
期号：2
页码：1-9
DOI：10.9734/AJEBA/2017/31999
语种：English
出版社：Sciencedomain International
摘要：This paper highlights an application of Gradient or Hamiltonian (Grad-Ham) Systems in deriving multivariate total functions. The objective is to establish a relationship between Gradient or Hamiltonian systems and economic-oriented multivariate marginal functions, and demonstrate how they can significantly be applied to the derivation of economic multivariate total functions. The multivariate marginal functions are represented by the Grad-Ham systems of differential equations whose analytical solutions are based on the partial antiderivative technique. The paper establishes that all economic multivariate marginal functions can respectively be expressed as exact differential equations. It also uncovered that functions that can be optimized are conservative along their optimal paths and that these functions become the first integrals of their respective marginal systems. Finally, it introduces two model examples- one hypothetical and the other based on the Cobb-Douglas Production function- and presents their derivations thereof.
关键词：Analytical solution;economics;exact differential equations;gradient systems;hamiltonian systems;marginal systems;multivariate and univariate functions;total functions