Concave utility on finite sets |
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| Authors: | Marcel K Richter Kam-Chau Wong |
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| Institution: | a Department of Economics, University of Minnesota, Minneapolis, MN 55455, USA
b Department of Economics, Chinese University of Hong Kong, Shatin, Hong Kong |
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| Abstract: | When does a preference relation on a finite set have a concave or a strictly concave utility function? We provide a complete answer. Our proof is an application of the Theorem of the Alternative, and constructs a concave utility if one exists. |
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| Keywords: | D11 C60 |
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