Abstract
AbstractWe present higher order necessary conditions for a model of welfare economics, where the preference mapping has a star-shape property. We assume that the preferences can be satiable and can be described by an arbitrary preference set, without the use of utility functions. These conditions are formulated in terms of higher-order directional derivatives of multivalued mappings, and the variable domination structure is not given by cones.
Publisher
Springer Science and Business Media LLC
Subject
Applied Mathematics,Geometry and Topology,Numerical Analysis,Statistics and Probability,Analysis