Remarks concerning concave utility functions on finite sets

A direct construction of concave utility functions representing convex preferences on finite sets is presented. An alternative construction in which at first directions of supergradients (“prices”) are found, and then utility levels and lengths of those supergradients are computed, is exhibited as well. The concept of a least concave utility function is problematic in this context. Copyright Springer-Verlag Berlin/Heidelberg 2005

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Year of publication:	2005
Authors:	Kannai, Yakar
Published in:	Economic Theory. - Springer. - Vol. 26.2005, 2, p. 333-344
Publisher:	Springer
Subject:	Concave utility \| Finite sets \| Supergradients \| Afriat-Varian algorithm \| Least concavity

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005371178