In message Thu, 17 Nov 1994 16:36:18 -0600, coatsm@CENAC.NICH.EDU writes:
Micro is a lot of things. Constrained optimization misses the boat,
however. Morris
I have to admit that I either disagree with or don't understand Morris. I
consider microeconomics to be very well described as an application of
constrained optimization. In fact, I believe that I remember hearing a
story in which a PhD Micro prelim exam question at a prestigious university
was something like "Comment on the suggestion that Micro economics is
little more than constrained optimization" and the correct answer was "The
preceding suggestion is correct."
Paul G. Straub
Organization Behavior Department
J.L. Kellogg Graduate School of Management
Northwestern University
2001 Sheridan Road
Evanston, IL 60208-2008
telephone (708) 467-2366
fax (708) 491-8896
email pstraub@merle.acns.nwu.edu