I am trying to find some real life ("non trivial") examples of optimization related to economics.
So far, most of the examples that I come across are from introductory economics textbooks involving some basic example about farmers choosing between different crops to grow based on expected harvest and market price; or some similar example of a factory in which two different machines manufacture different types of items at different speeds, and again based on expected consumer demand, the manager at the factory is expected to decide how much of each machine's workload should be assigned to which type of item. Sometimes, there might be some constraints that need to be taken into consideration. Generally, these problems I come across can be solved using algebraic manipulation or through linear programming.
I posted an example of one of these problems below:
Although these types of problems are great examples to familiarize one's self with economics and optimization, the context of these problems generally appear as "too simple", and instantly one begins to think that these are big oversimplifications of real world economics problems - and such oversimplified problems likely have little relevance in the real world. I am trying to look for some examples of optimization problems in economics in more realistic situations such as in banks, investment firms, resource allocation in national budgets, etc.
Can someone please suggest some more realistic and complex examples of optimization problems within an economics context? Perhaps some real life examples involving allocation of resources in markets, investment risks, non-convex objective functions with many complicated constraints, etc. ?
It would be ideal if the references for these problems could be provided as well that fully explain the environment and context in which these optimization problems appear.
Can someone please suggest something?