Class notes
TESTS OF CONVEXITY AND CONCAVITY USING HESSIAN DETERMINANTS : MATHEMATICS FOR ECONOMISTS III
- Institution
- Yale University
A concave function has an absolute maximum when plotted on a graph, while a convex function gives an absolute minimum when plotted on a graph. It is easy to check for concavity and convexity in functions of single independent variable by just checking the second order derivative. If the sec...
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