Content deleted Content added
Shorten short description — WP:SDSHORT + WP:SDNOTDEF |
→top: remove the second sentence and replace with a plain language example? |
||
Line 1:
{{Short description|Concept in economics}}
{{Improve lead|date=October 2023}}
In [[economics]], '''convex preferences''' are an individual's ordering of various outcomes, typically with regard to the amounts of various goods consumed, with the property that, roughly speaking, "averages are better than the extremes". The concept roughly corresponds to the concept of [[marginal utility#Diminishing marginal utility|diminishing marginal utility]] without requiring [[utility function]]s.
| |||