This preview shows page 1. Sign up to view the full content.
Unformatted text preview: k at point x . If all vectors ( du / dx k ( x )) of partial derivatives are nonzero, then the in-duced preference is differentiable with v k ( x ) = du / dx k ( x ) (the partial derivative of u with respect to the commodity k at the point x ). Bibliographic Notes Recommended readings : Kreps 1990, 3237; Mas-Colell et al. 1995, Chapter 3, AC. The material in this lecture up to the discussion of differentiability is fairly standard and closely parallels that found in Arrow and Hahn (1971)....
View Full Document
- Fall '10