Article ID Journal Published Year Pages File Type
7349758 Economics Letters 2017 14 Pages PDF
Abstract
Under regularity and boundary conditions which ensure an interior maximum, I show that there is a unique critical point which is a global maximum if and only if the Hessian determinant of the negated objective function is strictly positive at any critical point. Within the large class of Morse functions, and subject to boundary conditions, this local and ordinal condition generalizes strict concavity, and is satisfied by nearly all strictly quasiconcave functions. The result also provides a new uniqueness theorem for potential games.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Authors
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