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George Mason University

2016-2017 University Catalog

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2016-2017 University Catalog

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SYST 465 - Pricing in Optimization and Game Theory

Credits: 3
Limited to 2 Attempts
Offered by Systems Engineering and Operations Research

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.
Schedule Type: LEC
Hours of Lecture or Seminar per week: 3
Hours of Lab or Studio per week: 0
When Offered: Spring

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SYST 465 - Pricing in Optimization and Game Theory