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We present the revealed preference conditions that characterize the data sets that are consistent with the maximization of a weakly separable utility function. We show that verifying these revealed preference conditions is np-hard. We also present an integer programming approach, which is...
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We present necessary and sufficient revealed preference conditions to verify whether a finite data set on nonlinear budget sets is consistent with the maximization of a quasi-concave utility function. When budget sets are finite unions of polyhedral convex sets, these conditions require...
Persistent link: https://www.econbiz.de/10010785019
We consider games with incomplete information à la Harsanyi, where the payoff of a player depends on an unknown state of nature as well as on the profile of chosen actions. As opposed to the standard model, playersʼ preferences over state-contingent utility vectors are represented by arbitrary...
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In this paper, we investigate abstract convexity of non-positive increasing and radiant (IR) functions over a topological vector space. We characterize the essential results of abstract convexity such as support set, subdifferential and polarity of these functions. We also give some...
Persistent link: https://www.econbiz.de/10010845807
In this paper, we first obtain some properties of topical (increasing and plus-homogeneous) functions in the framework of abstract convexity. Next, we use the Toland–Singer formula to characterize the dual problem for the difference of two topical functions. Finally, we present necessary and...
Persistent link: https://www.econbiz.de/10010845848
An open question in the study of quasiconvex function is the characterization of the class of functions which are sum of quasiconvex functions. In this paper we restrict our attention to quasiconvex radiant functions, i.e. those whose level sets are radiant as well as convex and deal with the...
Persistent link: https://www.econbiz.de/10010847598