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Monotonicity (Preference)


Definition

Monotonicity
MWG - Definition 3.B.2
The preference relation on X is monotone if x X and y x implies y x.


If is monotone, we may have indifferent with respect to an increase in the amount of some but not all commodities.


If some commodity in the bundle of y changes from x, but the bundle are still the same, then y x.


Strong monotonicity
It is strongly monotone if y x and y x imply that y x


Strong monotonicity says that if y is larger than x for some commodity and is no less for any other, then y is strictly preferred to x.


Note

For y x and y x as vector relationship, check frequently used symbols.


Example