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Math Help - Foc

  1. #1
    Newbie
    Joined
    Aug 2008
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    1

    Foc

    Good afternoon,

    please help me with two questions.

    a) How do I solve the following FOC for x:

    -(1 + v) * (k * x)^v - D * ln[1 - p] * (1 + x * ln[1 - p]) * (1-p)^x = 0

    b) Is there a program available to solve this type of question?

    Thank you very much in advance. Best regards - Peter T.
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  2. #2
    Newbie
    Joined
    Mar 2010
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    10
    Could you tell me, what FOC means.

    Thanks
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  3. #3
    Senior Member
    Joined
    Feb 2010
    Posts
    422
    I think its "first order condition" as in a condition on the first order derivative necessary for an extremum.

    edit: You can solve it using the Lambert W function I'm fairly certain, but its gonna be ugly.
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  4. #4
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    Mar 2010
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    10
    Thanks for replying.
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