In economics, convex preferences are an individual's ordering of various outcomes, typically with regard to the amounts of various goods consumed, with...

respective utility. Preferences are evaluations that concern matters of value, in relation to practical reasoning. Individual preferences are determined by...

continuous utility function.: 79  Theorem 1 (Varian):: 68  If the preferences of all agents are convex and strongly monotone, then PEEF allocations exist. Proof:...

In geometry, the convex hull, convex envelope or convex closure of a shape is the smallest convex set that contains it. The convex hull may be defined...

concentrate on consumers with convex preferences and convex budget sets and on producers with convex production sets; for convex models, the predicted economic...

of a bond to changes in interest rates Convex preferences, an individual's ordering of various outcomes Convex Computer, a former company that produced...

economics, it can be used to extend results proved for convex preferences to non-convex preferences. In optimization theory, it can be used to explain the...

phenomenon is convex when "intermediates (or combinations) are better than extremes". For example, an economic agent with convex preferences prefers combinations...

consumer has strictly convex preferences, then the Marshallian demand is unique and continuous. In contrast, if the preferences are not convex, then the Marshallian...

equilibrium model. It posits that under certain economic assumptions (convex preferences, perfect competition, and demand independence), there must be a set...

satisfaction unchanged. Convex preferences are assumed in concordance with the principle of declining marginal utility. Preferences are complete. The consumer...

convex preferences (that do not prefer extremes to in-between values) and convex budget sets and on producers with convex production sets; for convex...

; Shubik, M. (1966), "Quasi-cores in a monetary economy with non-convex preferences", Econometrica, 34 (4): 805–827, doi:10.2307/1910101, JSTOR 1910101...

microeconomics, quasiconcave utility functions imply that consumers have convex preferences. Quasiconvex functions are important also in game theory, industrial...

stronger than those for the first, as consumers' preferences and production sets now need to be convex (convexity roughly corresponds to the idea of diminishing...

So they consider two subsets of convex preferences: homogenous quadratic preferences, and separable convex preferences. In the homogeneous quadratic model...

elasticity of the demand curve and on the properties of each market. Convex preferences Cost the limit of price List of topics in industrial organization...

test (take the derivative of MRS) to determine if our consumer's preferences are convex. If the derivative of MRS is negative the utility curve would be...

{\displaystyle w_{i}} to be strictly positive for all consumers i. Convex preferences Varian's theorems – a competitive equilibrium is both Pareto-efficient...

George's preferences equally well. Ordinal utility contrasts with cardinal utility theory: the latter assumes that the differences between preferences are...

chapter "Markets with non-convex preferences and production" presenting "Quasi-equilibria in markets with non-convex preferences" by Ross Starr in the textbook...

exactly u ¯ {\displaystyle {\bar {u}}} . Marshallian demand function Convex preferences Expenditure minimization problem Slutsky equation Duality (optimization)...

utility functions, giving sufficient conditions under which continuous convex preferences can be represented by concave utility functions. His results were...

and let each have normally structured (convex) preferences represented by indifference curves that are convex toward the people's respective origins....

goods satisfying the following conditions: All agents have strictly convex preferences; All goods are desirable. This means that, if any good j {\displaystyle...

and a corresponding Marshallian demand function. Hotelling's lemma Convex preferences Varian, Hal (1992). Microeconomic Analysis (Third ed.). New York:...

functions representing locally non-satiated and strictly convex preference relations on a convex consumption set, under the additional requirement that...

Star polygon – Regular non-convex polygon Symmetric set – Property of group subsets (mathematics) Star-shaped preferences Braga de Freitas, Sinval; Orrillo...

In economics and finance, risk neutral preferences are preferences that are neither risk averse nor risk seeking. A risk neutral party's decisions are...

consumers Choice modelling – Method for analyzing revealed preferences Convex preferences – Concept in economics Consumer sovereignty – Economic consumer...