Re: If a utility function is concave, does that mean the preferences are convex?

Posted by eco aspirant on Jun 09, 2017; 4:28pm
URL: http://discussion-forum.276.s1.nabble.com/If-a-utility-function-is-concave-does-that-mean-the-preferences-are-convex-tp7605247p7605248.html

Yes, if utility function is concave (strictly), it implies that the function is also quasi-concave (strictly). Presence of (strictly) quasi-concavity will ensure us (strictly)convex preferences.