On the (non-)differentiability of the optimal value function when the optimal solution is unique

B-Tier
Journal: Journal of Mathematical Economics
Year: 2018
Volume: 76
Issue: C
Pages: 21-32

Authors (2)

Oyama, Daisuke (University of Tokyo) Takenawa, Tomoyuki (not in RePEc)

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We present examples of a parameterized optimization problem, with a continuous objective function differentiable with respect to the parameter, that admits a unique optimal solution, but whose optimal value function is not differentiable. We also show independence of Danskin’s and Milgrom and Segal’s envelope theorems.

Technical Details

RePEc Handle
repec:eee:mateco:v:76:y:2018:i:c:p:21-32
Journal Field
Theory
Author Count
2
Added to Database
2026-01-26