Remarks concerning concave utility functions on finite sets

Yakar Kannai ()
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Yakar Kannai: Weizmann Institute of Science

A chapter in Rationality and Equilibrium, 2006, pp 91-102 from Springer

Abstract: Summary 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.

Keywords: Concave utility; Finite sets; Supergradients; Afriat-Varian algorithm; Least concavity (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:spr:steccp:978-3-540-29578-5_5

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DOI: 10.1007/3-540-29578-X_5

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