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Results tagged with economics
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user 18474
For mathematical problems arising from economics, the social science studying the production, distribution, and consumption of goods and services.
3
votes
concept of efficiency in auction theory
Pareto-efficiency means that there's no way to reallocate goods and make everyone better off. This is a weak notion of efficiency in general. For example, suppose we cannot require payments, and just …
2
votes
0
answers
181
views
A categorical analogue of Debreu's independent factors theorem
Background
A major question in Decision Theory is that of the cardinal meaning of a utility function. That is, given a set $X$, a utility function $u:X\rightarrow \mathbb{R}$ represents the choices …