Name
Abstract | ||
|---|---|---|
There exist several characterizations of concavity for univariate functions. One of them states that a function is concave if and only if it has nonincreasing differences. This definition provides a natural generalization of concavity for multivariate functions called inframodularity. Inframodular transfers are defined and it is shown that a finite lottery is preferred to another by all expected utility maximizers with an inframodular utility if and only if the first lottery can be obtained from the second via a sequence of inframodular transfers. This result is a natural multivariate generalization of Rothschild and Stiglitzʼs construction based on mean preserving spreads. |
Year | DOI | Venue |
|---|---|---|
2012 | 10.1016/j.jet.2011.02.002 | Journal of Economic Theory |
Keywords | DocType | Volume |
D81 | Journal | 147 |
Issue | ISSN | Citations |
4 | 0022-0531 | 5 |
PageRank | References | Authors |
0.71 | 5 | 2 |
Name | Order | Citations | PageRank |
|---|---|---|---|
| Alfred Müller | 1 | 87 | 17.12 |
| Marco Scarsini | 2 | 164 | 33.96 |