Logconcavity versus Logconvexity: A Complete Characterization
This paper provides a complete characterization of logconcavity, an increasingly popular concept in the economics of uncertainty and information. New and known results are proven without assuming that density functions are differentiable. A systematic comparison between logconcavity and logconvexity...
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| Veröffentlicht in: | Journal of economic theory 1998-06, Vol.80 (2), p.350-369 |
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| container_end_page | 369 |
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| container_start_page | 350 |
| container_title | Journal of economic theory |
| container_volume | 80 |
| creator | An, Mark Yuying |
| description | This paper provides a complete characterization of logconcavity, an increasingly popular concept in the economics of uncertainty and information. New and known results are proven without assuming that density functions are differentiable. A systematic comparison between logconcavity and logconvexity is made and the source of the asymmetries between the two is investigated. The key difference is that logconcavity is preserved under one-sided integrations regardless of the types of distribution supports. This property, however, does not hold for logconvexity. Logconcavity for multivariate distributions is also discussed.Journal of Economic LiteratureClassification Number: D80. |
| doi_str_mv | 10.1006/jeth.1998.2400 |
| format | Article |
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| ispartof | Journal of economic theory, 1998-06, Vol.80 (2), p.350-369 |
| issn | 0022-0531 1095-7235 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_38608292 |
| source | RePEc; Elsevier ScienceDirect Journals |
| subjects | Asymmetric information Comparative analysis Distribution Economic models Economic theory Information Multivariate analysis Studies Uncertainty |
| title | Logconcavity versus Logconvexity: A Complete Characterization |
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