求教效用函数

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E1.1 Explain briefly why the assumption of concavity of the utility function can be dispensed with. _______________________________________________ Answer: Utility is an ordinal measure, i.e., you can apply any monotonic transformation to any given utility function and still it would be as good as a representation of the individual’s preferences as the original function. Concavity is not a property that survives a (strongly convex) transformation: for example, transform u(x) to Exp u(x) . What matters is that the utility function is quasi‐concave.

不明白的是，边际效用递减不是意味着效用曲线是concave的么？

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关键词：效用函数 Presentation Presentatio Preferences References 函数 效用 求教

边际效用递减是基数效用论里的概念，对于序数效用论来说，根本没有边际效用递减这个说法。

凸偏好对应拟凹效用函数。一般情况下，“拟凹函数-线性约束”一阶条件就可保证求到极值了。尽量忘记“边际效用递减”这样的说法吧，它引起的混乱实在太多。

https://bbs.pinggu.org/dispbbs.asp?boardid=47&star=1&replyid=296262&id=39741&skin=0&page=13

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