Definition of Nonsatiated. Meaning of Nonsatiated. Synonyms of Nonsatiated

Here you will find one or more explanations in English for the word Nonsatiated. Also in the bottom left of the page several parts of wikipedia pages related to the word Nonsatiated and, of course, Nonsatiated synonyms and on the right images related to the word Nonsatiated.

Definition of Nonsatiated

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Meaning of Nonsatiated from wikipedia

- Walras’ law theorem. Walras's law says that if consumers have locally nonsatiated preferences, they will consume their entire budget over their lifetime...
- the consumer's utility function u(x){\displaystyle u(x)} is locally nonsatiated and strictly convex, then by Shephard's lemma it is true that h(p,u)=∇pe(p...
- conditions. A formal statement is as follows: If preferences are locally nonsatiated, and if ( X ∗ , Y ∗ , p ) {\displaystyle (\mathbf {X^{*}} ,\mathbf {Y^{*}}...
- for the first welfare theorem to hold is that preferences be locally nonsatiated. The first welfare theorem also holds for economies with production regardless...