2011-2012 University Catalog 
  
  Catalog Home
  About George Mason University
  Admission
  Tuition, Expenses, and Financial Aid
  School of Law
  Academic Policies
  Student Rights and Responsibilities
  General Policies
  Schedule of Classes
  University Academic Programs and Resources
  Transcript Key
  University General Education
  School for Conflict Analysis and Resolution
  College of Education and Human Development
  College of Health and Human Services
  College of Humanities and Social Sciences
  Krasnow Institute for Advanced Study
  School of Management
  School of Public Policy
  College of Science
  College of Visual and Performing Arts
  Volgenau School of Engineering
  Programs of Study
  Programs by Department
  Bachelor's/Accelerated Master's Programs
  Courses
  Administration and Faculty
HELP
2011-2012 University Catalog

SYST 465 - Pricing in Optimization and Game Theory

Credits: 3 (NR)
Allocation of limited resources among competing activities to maximize the outcome or minimization of expenses required to produce a given assortment of goods and services are two typical problems faced by any economic institution. Mathematical modeling of such problems and finding efficient mathematical tools for solving them are two main goals of modern optimization theory. Pricing limited resources, goods, and services is the key instrument for theoretical analysis of complex economical systems. Pricing theory can also give rise to numerical methods for finding optimal solutions and economic equilibrium. Fundamental tools in pricing theory are the classical Lagrangian and Lagrange multipliers for constrained optimization. Covers the basic ideas and methods of linear programming and matrix games. Particular emphasis to pricing for both theoretical analysis and numerical methods.

Equivalent to ECON 496/MATH 493

Prerequisite(s): MATH 203 or 216, and OR 441, or permission of instructor.

Hours of Lecture or Seminar per week: 3
Hours of Lab or Studio per week: 0
When Offered: Spring