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{{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". This implies that the consumer prefers a variety of goods to having more of a single good. The concept roughly corresponds to the concept of [[marginal utility#Diminishing marginal utility|diminishing marginal utility]] without requiring [[utility function]]s.
== Notation ==
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