Convex preferences quasi-concave utility functions, although these are not necessary for the analysis of preferences. Convex preferences In economics, convex preferences are an individual's ordering of various outcomes, typically with regard to the amounts of various goods consumed, with the property that, roughly speaking, "averages are better than the extremes". The concept roughly corresponds to the concept of diminishing marginal utility without requiring utility functions. Comparable to the greater-than-or-equal-to ordering relation formula_1 for real numbers, the notation formula_2 below can be translated as: 'is at least as good as' (in preference satisfaction). Similarly, formula_3 can be translated as 'is strictly better than'
Crepuscular rays Crepuscular rays Crepuscular rays (more commonly known as sunbeams, sun rays, splintered light, or god rays), in atmospheric optics, are rays of sunlight that appear to radiate from the point in the sky where the Sun is located. Shining through openings in clouds (particularly stratocumulus) or between other objects, these columns of sunlit particulates are separated by darker cloud-shadowed volumes. Despite seeming to converge toward the light source, the rays are in fact near-parallel shafts of sunlight. Their apparent convergence is a perspective effect. This phenomenon mimics the way parallel railway lines or long hallways, for example, seem to seek