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Apathy, also referred to as indifference, is a lack of feeling, emotion, interest, or concern about something. It is a state of indifference, or the suppression of emotions such as concern, excitement, motivation, or passion. An apathetic individual has an absence of interest in or concern about emotional, social, spiritual, philosophical ...
Convex preferences imply that the indifference curves cannot be concave to the origin, i.e. they will either be straight lines or bulge toward the origin of the indifference curve. If the latter is the case, then as a consumer decreases consumption of one good in successive units, successively larger doses of the other good are required to keep ...
It might better be translated by the word equanimity than the word indifference. The meaning of the word apatheia is quite different from that of the modern English apathy , which has a distinctly negative connotation that includes feelings of inertness, indifference, and impassiveness.
Under the standard assumption of neoclassical economics that goods and services are continuously divisible, the marginal rates of substitution will be the same regardless of the direction of exchange, and will correspond to the slope of an indifference curve (more precisely, to the slope multiplied by −1) passing through the consumption bundle in question, at that point: mathematically, it ...
A set of convex-shaped indifference curves displays convex preferences: Given a convex indifference curve containing the set of all bundles (of two or more goods) that are all viewed as equally desired, the set of all goods bundles that are viewed as being at least as desired as those on the indifference curve is a convex set.
An indifference curve is a set of all commodity bundles providing consumers with the same level of utility. The indifference curve is named so because the consumer would be indifferent between choosing any of these bundles. The indifference curves are not thick because of LNS.
Indifference curve, in microeconomic theory, a graph describing consumer preferences Principle of indifference , in probability theory, a rule for assigning epistemic probabilities A song on the band Pearl Jam's second album Vs.
By varying the weighting parameter b, one can trace out the entire contract curve: If b = 1 the problem is the same as the previous problem, and it identifies an efficient point at one edge of the lens formed by the indifference curves of the initial endowment; if b = 0 all the weight is on person 2's utility instead of person 1's, and so the ...