In a constrained optimization problem, the decisionmaker wants to select the "optimal" choice - the one most valuable to him or her - that also meets all of the constraints imposed by the problem. Such problems are at the heart of modern economics, where the typical behavioral postulate is that a decisionmaker behaves "rationally"; that is, chooses optimally from a set of constrained choices.

Most books on constrained optimization are technical and full of jargon that makes it hard for the inexperienced reader to gain a holistic understanding of the topic. Peter B. Morgan's...

In a constrained optimization problem, the decisionmaker wants to select the "optimal" choice - the one most valuable to him or her - that also meets all of the constraints imposed by the problem. Such problems are at the heart of modern economics, where the typical behavioral postulate is that a decisionmaker behaves "rationally"; that is, chooses optimally from a set of constrained choices.

Most books on constrained optimization are technical and full of jargon that makes it hard for the inexperienced reader to gain a holistic understanding of the topic. Peter B. Morgan's...