Local nonsatiation
id:
local-nonsatiation-241-17638727
title:
Local nonsatiation
text:
In microeconomics, the property of local nonsatiation (LNS) of consumer preferences states that for any bundle of goods there is always another bundle of goods arbitrarily close that is strictly preferred to it. Formally, if X is the consumption set, then for any x ∈ X and every ε > 0 , there exists a y ∈ X such that ‖ y − x ‖ ≤ ε and y is strictly preferred to x . Several things to note are: Local nonsatiation is implied by monotonicity of preferences. However, as the converse is not true, loca
brand slug:
wiki
category slug:
encyclopedia
description:
Consumer preferences property
original url:
https://en.wikipedia.org/wiki/Local_nonsatiation
date created:
date modified:
2024-04-09T23:29:29Z
main entity:
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image:
{"content_url":"https://upload.wikimedia.org/wikipedia/commons/6/6d/Localnonsatiation.svg","width":540,"height":360}
fields total:
13
integrity:
15