Uni Econ

• JerryJan

  25 Aug 09, 18:18

  Kindly explain wat tis question abt -

  Convexity : let's us avoid wavy preference mappings

  Given x,y,z E X, if x >/= z and y>/=z,

  then it follows that tx + (1-t)y >/= z Vt E [0,1]  

  Thanks !

   

• charlize

  25 Aug 09, 18:31

  Helping your daughter do her homework?

• deepak.c

  25 Aug 09, 18:37

   

  That is JerryYan, this is JerryJan.

   

   

• Fantagf

  25 Aug 09, 18:39

  Originally posted by deepak.c:

   

  That is JerryYan, this is JerryJan.

   

   

  
  Same person.

  kena bully by the same people  that is why she changed her nick

• charlize

  25 Aug 09, 18:41

  Originally posted by deepak.c:

   

  That is JerryYan, this is JerryJan.

   

   

  My bad.

   

  Old people need glasses.

• deepak.c

  25 Aug 09, 18:48

   

  char,

   

  Any idea what she is asking?

   

   

• charlize

  25 Aug 09, 18:54

  Originally posted by deepak.c:

   

  char,

   

  Any idea what she is asking?

   

   

  It's more mathematical than economics.

   

  Google lah.

   

   

• wee_ws

  25 Aug 09, 19:23

  Originally posted by JerryJan:

  Kindly explain wat tis question abt -

  Convexity : let's us avoid wavy preference mappings

  Given x,y,z E X, if x >/= z and y>/=z,

  then it follows that tx + (1-t)y >/= z Vt E [0,1]  

  Thanks !

  Hi,

    It follows, by definition of a convex function:

    http://mathworld.wolfram.com/ConvexFunction.html

    Thanks!

  Cheers,
  Wen Shih

• deepak.c

  25 Aug 09, 19:25

   

  Looks like indifference curve to me.

   

   

• JerryJan

  25 Aug 09, 23:51

  Thanks Wen Shih hope she can understand it.

  1 more question pls -

   Local Non-Satiation :

  V x E X and e > 0, then 3y E X s.t. [x-y] < e where y > x

  Thanks again !

• wee_ws

  26 Aug 09, 04:20

  Originally posted by JerryJan:

  Thanks Wen Shih hope she can understand it.

  1 more question pls -

   Local Non-Satiation :

  V x E X and e > 0, then 3y E X s.t. [x-y] < e where y > x

  Thanks again !

  Hi,

    Again, this is a definition in consumption theory.

    It is assumed that the consumer's preferences satisfy the property of local non-satiation.

    Earlier in the discussion, the definition of convexity was meant to be one of the properties of the consumption feasible set.

    Wow, it's a steep learning curve for anyone without some rigorous background in calculus and discrete mathematics!

    Jiayou!

  Cheers,
  Wen Shih