- PII
- S042473880000616-6-1
- DOI
- 10.7868/S0000616-6-1
- Publication type
- Article
- Status
- Published
- Authors
- Volume/ Edition
- Volume 51 / Issue 4
- Pages
- 25-36
- Abstract
In The Paper We Consider A Problem Of Characterization Of Utility Functions Which Generates Gross Substitute Demand. Let F Be A Concave Function; We Consider It As A Utility Function Of Some Comsumer Expressed In Terms Of Money. This Means That Demand (At A Price P) Is Formed As Solunion Of The Problem F(X)–P(X) → Max. Such A Function Is A GS-Function If An Increasing Of Price Of Any Good Yields Increasing Of Demand Of Other Goods. We Prove That F Is A GS-Function If And Only If The Conjugate Function F * Is Supermodular. As A Corollary We Prove That Any GS-Function Is Submodular. We Provide Also A Rule For Calculation Of The Derivative Of The Convolution Of Several Concave Functions.
- Keywords
- concave functions, supermodularity, submodularity, Fenchel duality
- Date of publication
- 01.10.2015
- Year of publication
- 2015
- Number of purchasers
- 1
- Views
- 816