PARAMETRIC OPTIMIZATION APPROACH TO UTILITY MAXIMIZATION PROBLEM

We consider the classical utility maximization problem which arises in consumer theory of economics. The utility maximization problem has been always considered in the literature [1,4,7] as concave maximization problem. So far less attention paid to parametric utility maximization problems. We consider parametric utility maximization problems with one parameter which is treated as time variable. We propose a new method and algorithm for solving the above problem. AMS Subject Classification: 46N10