Econometrica: May 1978, Volume 46, Issue 3
Non-Convexifiable Pareto Sets
Rolf Mantel, Yakar KannaiThe existence of comprehensive sets in R^3 which cannot be transformed onto convex sets by means of ordinal transformations (i.e., continuous, strictly increasing transformations of the coordinate axes) is established. Such sets can be realized as the disposable hulls of pure exchange economies with convex preference orderings.
Log In To View Full Content