Abstract
Every reasonable concave preference ordering possesses a concave utility function assuming values in a suitable non-standard extension of the reals. Even if a real-valued concave utility function does exist, this function is not least concave if non-standard utilities are allowed, unless a certain finiteness (or piecewise linearity) condition holds.
| Original language | English |
|---|---|
| Pages (from-to) | 51-58 |
| Number of pages | 8 |
| Journal | Journal of Mathematical Economics |
| Volume | 21 |
| Issue number | 1 |
| DOIs | |
| State | Published - 1992 |
| Externally published | Yes |