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| In economics, an agent's preferences are said to be '''weakly monotonic''' if, given a consumption bundle <math>x</math>, the agent prefers all consumption bundles <math>y</math> that have more of every good. That is, <math>y \gg x</math> implies <math>y\succ x</math>. An agent's preferences are said to be '''strongly monotonic''' if, given a consumption bundle <math>x</math>, the agent prefers all consumption bundles <math>y</math> that have more of at least one good, and not less in any other good. That is, <math>y\geq x</math> and <math>y\neq x</math> imply <math>y\succ x</math>.
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| This definition defines monotonic increasing preferences. Monotonic decreasing preferences can often be defined to be compatible with this definition. For instance, an agent's preferences for pollution may be monotonic decreasing (less pollution is better). In this case, the agent's preferences for lack of pollution are monotonic increasing.
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| Much of consumer theory relies on a weaker assumption, [[local nonsatiation]].
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| An example of preferences which are weakly monotonic but not strongly monotonic are those represented by a [[Leontief Utilities|Leontief utility function]].
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| ==References==
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| * [[Andreu Mas-Colell|Mas-Colell, Andreu]], Whinston, Michael D., Green, Jerry R. ''Microeconomic Theory.'' Oxford University Press. 1995.
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| ==See also==
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| *[[Monotonic function#Monotonicity in calculus and analysis]]
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| *[[Strict]]
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| [[Category:Microeconomics]]
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| [[Category:Consumer theory]]
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| {{microeconomics-stub}}
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Revision as of 14:15, 25 February 2014
Marvella is what you can contact her but it's not the most female title out there. I am a meter reader but I strategy on altering it. What I adore doing is to gather badges but I've been taking on new issues recently. South Dakota is exactly where me and my husband live.
Also visit my website; dore.gia.ncnu.edu.tw