Static Optimization and Welfare Measurement Model: Lagrangean Approach

Welfare state of the people has been an elusive term to measure over the years and as such giving it a near quantitative measure has not been adequately addressed. This book, therefore, presents Lagrangean methods in developing a theoretical welfare measurement model, which is used in measuring the welfare state of the people and setting up the right strategies for improving it. The results show that welfare measurement is dependent on the average society budgetary allocation and prices of the products utilized. Any variation on these parameters brings about a significant variation on the welfare state of the people. The work is, therefore, important to individuals in making decisions about their welfare state, to the government in setting up strategies for improving the welfare state of its people, and to the trade unions in their continuous tussle with employers in trying to improve the welfare state of the workers.

Autorentext

Olala holds MSc in Mathematics from Maseno University, Kenya. He has lectured mathematics in different universities in Kenya. He is currently a Principal Lecturer at Kisumu Polytechnic and also an Adjunct Lecturer at The Catholic University of Eastern Africa. His research interests are modeling practical problems using differential equations.