Title
From Arrow–Debreu condition to star shape preferences
Date Issued
01 November 2020
Access level
metadata only access
Resource Type
journal article
Author(s)
Braga de Freitas S.
Orrillo J.
Universidade Católica de Brasilia
Publisher(s)
Taylor and Francis Ltd.
Abstract
In this work, we introduce the star shape preferences in the context of Economics Theory, based in the notion of star shape sets, introduced by Valentin in 1964. We develop our study from a condition introduced by Arrow and Debreu in their pioneer general equilibrium model of 1954. We prove that the closure of the strict preferred sets of a function satisfying this condition are star shaped. Moreover, when it has either convex effective domain or no maximizers, we show that the closure of its preferred and strict preferred sets are convex. Furthermore, we prove that this family of functions preserve some properties of concave functions and contains the whole family of pseudo-concave and semi-strictly quasi-concave functions that appear in the literature. Also, we prove that this family of functions induce star shape preferences.
Start page
2405
End page
2419
Volume
69
Issue
11
Language
English
OCDE Knowledge area
Matemáticas Economía
Scopus EID
2-s2.0-85061780491
Source
Optimization
ISSN of the container
02331934
Sponsor(s)
Wilfredo Sosa was partially supported by Fundação de Apoio à Pesquisa do Distrito Federal (FAP-DF) [grant 0193.001695/2017]. Part of this research was carried out during visits to IMPA of Brazil and UAB of Spain. Finally, we thank to two anonymous referees for theirs valuable suggestions, which improve our work. All upcoming errors are the authors' sole responsibility.
Sources of information: Directorio de Producción Científica Scopus