Weakening The Strong Convexity Of Preferences
In general models, the strong quasi-concavity of the objective function, sufficient for theoretical properties of demands in consumer theory, is often arbitrary. Then, weaker global concavity conditions that preserve such properties are desirable for such models. We propose a new global concavity condition that implies, for models with several nonlinear constraints: the local uniqueness and the smoothness of the decision functions, and the negativity of the generalised substitution matrix. This condition can be used to specify more general and more flexible economic models.
|Date of creation:||Dec 2005|
|Publication status:||Published by Ivie|
|Contact details of provider:|| Postal: C/ Guardia Civil, 22, Esc 2a, 1o, E-46020 VALENCIA|
Phone: +34 96 319 00 50
Fax: +34 96 319 00 55
Web page: http://www.ivie.es/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:ivi:wpasad:2005-36. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Departamento de Edición)
If references are entirely missing, you can add them using this form.