A powerful tool for analyzing concave/convex utility and weighting functions

A-Tier
Journal: Journal of Economic Theory
Year: 2019
Volume: 181
Issue: C
Pages: 143-159

Authors (2)

Score contribution per author:

2.011 = (α=2.01 / 2 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

This paper shows that convexity of preference has stronger implications for weighted utility models than had been known hitherto, both for utility and for weighting functions. Our main theorem derives concave utility from convexity of preference on the two-dimensional comonotonic cone, without presupposing continuity. We then show that this, seemingly marginal, result provides the strongest tool presently available for obtaining concave/convex utility or weighting functions. We revisit many classical results in the literature and show that we can generalize and improve them.

Technical Details

RePEc Handle
repec:eee:jetheo:v:181:y:2019:i:c:p:143-159
Journal Field
Theory
Author Count
2
Added to Database
2026-01-29