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TESTS OF CONVEXITY AND CONCAVITY USING HESSIAN DETERMINANTS : MATHEMATICS FOR ECONOMISTS III
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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 second order derivative is negative, the function is concave and if positive, the function is said to be convex. In functions of two independent variables, there is a corresponding test which also uses the second order derivatives.
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Yale University
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Written for
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Yale University
Document information
- Uploaded on
- August 17, 2021
- Number of pages
- 17
- Written in
- 2021/2022
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- Class notes
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Subjects
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economics mathematics for economists iii
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tests of convexity and concavity using hessian determinants
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concave and convex functions
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determinantal test for sign definiteness
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