To position an economic entity such that it functions as well as possible given constraints that it might be subject to. In economic theory, it is generally assumed that all economic agents are rational and show optimizing behavior, although this is rarely the case in reality.
Related information about optimize:
- Optimize - Merriam-Webster Online
to make as perfect, effective, or functional as possible. — op·ti·miz·er \-ˌmī-zər\ noun. Examples of OPTIMIZE. The new system will optimize the efficiency with ...
- Optimize | Define Optimize at Dictionary.com
/ˈɒp təˌmaɪz/ Show Spelled [op-tuh-mahyz] Show IPA verb, op·ti·mized, op·ti· miz·ing. verb (used with object). 1. to make as effective, perfect, or useful as ...
- optimize - definition of optimize by the Free Online Dictionary ...
tr.v. op·ti·mized, op·ti·miz·ing, op·ti·miz·es. 1. To make as perfect or effective as possible. 2. Computer Science To increase the computing speed and efficiency of ...
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