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What is the Envelope Theorem in Optimization Theory?

Envelope Theorem in Optimization Theory In optimization theory, the Envelope Theorem simplifies analysis concerning how an optimal value of a function responds to changes in external parameters. Throughout economics, it’s useful in understanding how changes in prices, income, or other parameters affect maximum utility or profit, without having to recalculate an entire optimization problem. Let’s

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What is the Baumol-Tobin Model of Cash Management?

Photo by Giorgio Trovato on Unsplash The Baumol-Tobin model is an economic theory showing how individuals and firms manage cash holdings to minimize the total costs associated with cash transactions and holding cash. It thus explores the trade-off between liquidity provided by holding cash that doesn’t earn any interest, and the correlated opportunity cost of not investing

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Hinduism Through Prothero’s Four-Part Approach and Eck’s Darsan

Photo by Sonika Agarwal on Unsplash In Prothero’s seminal work God Is Not One, he presents a four-part framework to understanding religions: identifying the central problem each religion addresses, the solution it offers, the techniques it employs to move from problem to solution, and the exemplars who embody this path. To gain a more nuanced perspective, we

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Leach’s Approach to Creation Myths & Leachian Mythological Analysis

Photo by The New York Public Library on Unsplash British sociologist and anthropologist Edmund Leach studies in part creation myths. We’ve explored his arguments and ideas on creation myths in prior arguments, but never laid out a cohesive—though simplified—framework to analyze creation myths, or myths period, through the Leachian lens. First: note that we will define a

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How Does Hermeneutic Theory Critique Biblical Literalism?

Photo by Ioann-Mark Kuznietsov on Unsplash In John Bartkowski’s Beyond Biblical Literalism and Inerrancy, he uses hermeneutic theory to analyze and critique biblical literalism via the Protestant tradition. In this article we’ll explore and summarize his perspective on hermeneutic theory as critiquing biblical literalism. Before reading onward, make sure to click on the following to read

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What does Prothero say about Islamism?

Photo by Ahmed Sherif on Unsplash In Prothero’s God is One, he explores the notion of Islamism, defining Islamism as a “radical form of politicized Islam.” He notes that Islamism means different things among different groups, but the “ism” largely denotes an ideology—that being an anti-Western and anti-American ideology applied to“political ends.” The goal of Islamists

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The Qur’an at the 1893 World Columbian Exposition

Photo by Zaenal Abidin on Unsplash Ali explores the ways in which the Qur’an was received and displayed at the 1893 World’s Columbian Exposition in Chicago through her work The Qur’an at the World’s Fair: Orientalism, Exhibitionism, and the Sacred Text. Critical here is the notion of orientalism — check out my article here on Iwamura’s Virtual Orientalism to

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