Biggest ellipse included in a convex polygon

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Considering a N edges convex 2D polygon called P. Let's name its vertices $\{p_1, p_2, ..., p_N\}$ described in a counter-clockwise order, with $p_i = (x_i, y_i)$

What would be, and how would one compute(preferably without optimization algorithm) the ellipse of biggest area E included in this polygon?