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In economics, convex preferences are an individual's ordering of various outcomes, typically with regard to the amounts of various goods consumed, with the property that, roughly speaking, "averages are better than the extremes". The concept roughly corresponds to the concept of diminishing marginal utility without requiring utility functions.
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In economics, convexpreferences are an individual's ordering of various outcomes, typically with regard to the amounts of various goods consumed, with...
of a bond to changes in interest rates Convexpreferences, an individual's ordering of various outcomes Convex Computer, a former company that produced...
consumer has strictly convexpreferences, then the Marshallian demand is unique and continuous. In contrast, if the preferences are not convex, then the Marshallian...
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 convexpreferences and convex budget sets and on producers with convex production sets; for convex models, the predicted economic...
; Shubik, M. (1966), "Quasi-cores in a monetary economy with non-convexpreferences", Econometrica, 34 (4): 805–827, doi:10.2307/1910101, JSTOR 1910101...
crossed would give opposite and intransitive preference rankings. (Strictly) convex. With (2), convexpreferences[clarification needed] imply that the indifference...
phenomenon is convex when "intermediates (or combinations) are better than extremes". For example, an economic agent with convexpreferences prefers combinations...
demand curve[citation needed] and on the properties of each market. Convexpreferences Cost the limit of price List of topics in industrial organization...
microeconomics, quasiconcave utility functions imply that consumers have convexpreferences. Quasiconvex functions are important also in game theory, industrial...
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...
George's preferences equally well. Ordinal utility contrasts with cardinal utility theory: the latter assumes that the differences between preferences are...
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...
Arrow–Debreu model of general economic equilibrium, agents have convex budget sets and convexpreferences: at equilibrium prices, the budget hyperplane supports...
{\displaystyle w_{i}} to be strictly positive for all consumers i. Convexpreferences Varian's theorems – a competitive equilibrium is both Pareto-efficient...
goods satisfying the following conditions: All agents have strictly convexpreferences; All goods are desirable. This means that, if any good j {\displaystyle...
chapter "Markets with non-convexpreferences and production" presenting "Quasi-equilibria in markets with non-convexpreferences" by Ross Starr in the textbook...
and let each have normally structured (convex) preferences represented by indifference curves that are convex toward the people's respective origins....
In economics and finance, risk neutral preferences are preferences that are neither risk averse nor risk seeking. A risk neutral party's decisions are...
utility functions, giving sufficient conditions under which continuous convexpreferences can be represented by concave utility functions. His results were...
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