A generalized envelope theorem with an application to congestion-prone facilities

A generalized envelope theorem is presented which has the Envelope Theorem as a special case. Relative to the Envelope Theorem, it provides greater flexibility in determining the rate of change of a value function with respect to one of its arguments. We revisit a classic result on economies of scale for a congestion-prone facility, using the flexibility of the Generalized Envelope Theorem to provide a simpler, more intuitive proof.

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Year of publication:	2002
Authors:	Kraus, Marvin
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 3.2002, 28, p. 1-4
Publisher:	AccessEcon
Subject:	congestible facilities

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	C6 - Mathematical Methods and Programming
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005094755