Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
7349758 | Economics Letters | 2017 | 14 Pages |
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
Finn Christensen,