... While he has often gone beyond orthodox economics, David never leaves economics behind. "I reaffirm my faith in models in which individuals maximize (albeit as best they can) and admit that my objective is to convert ...
... 0 (a o , θ) ≤ 0 which contradicts ˆ a > a o . Q.E.D. Proposition S2 identifies a sufficient condition for the well-known result of Che and Hausch (1999) to hold when alternative-use value depends on a. Formal ...
... Absolute Risk Aversion (2) The next proposition gives a rationale for this measure. Thm (Pratt’s Theorem) Let u 1 and u 2 be twice differentiable, increasing, and strictly concave vNM utility functions. ...
... Problem Set 2: Posted on November 18 Advanced Microeconomics I (Fall, 1st, 2013) 1. Question 1 (7 points) A real-valued function f (x) is called homothetic if f (x) = g(h(x)) where g : R → R is a strictly ...
... Open Set and Closed Set (2) Boundary and interior ◮ A point x is called a boundary point of a set S in R n if every ε-ball centered at x contains points in S as well as points not in S. The set of all boundary ...
... Problem Set 2: Due on May 14 Advanced Microeconomics I (Spring, 1st, 2013) 1. Question 1 (6 points) (a) Suppose the utility function is continuous and strictly increasing. Then, show that the associated indirect ...
... Dual Problem - Theory | 双対問題 - 理論 (3) Thm Suppose the consumer’s preference is continuous, monotone and strictly convex. Then, we have the following relations between the Hicksian and Marshallian demand functions for p ...
... Problem Set 2: Due on May 10 Advanced Microeconomics I (Spring, 1st, 2012) 1. Question 1 (2 points) Suppose the production function f satisfies (i) f (0) = 0, (ii) increasing, (iii) con- tinuous, (iv) ...
... or u i ( i ; i ) u i (s i ; i ) for all s i 2 S i . (2) 7. Mixed strategies: Application A crime is observed by a group of n people. Each person would like the police to be informed but prefers that someone ...
... A good is called normal (resp. inferior) if consumption of it increases (resp. declines) as income increases, holding prices constant.. Show the following claims.[r] ...
... テスト生成複雑度 [Fujiwara, et al, IEEE Trans. Comp, 1982] • Strategy 1: In each step of the algorithm, determine as many signal values as possible that can be uniquely implied . Strategy 2: Assign a fault signal D or ...
... Get up early, you can catch the first train. (2) If you don't get up early, you will be late for school. Get up early, you will be late for school. 問題 次 日本文 あう英文 よう ( )内 語(句) 並べ え さい ...