Economics Asked by Alexa Thomas on July 8, 2021
I saw the figure which satisfies the free disposal assumption in Mas-Colell, Whinston and Green (1995), but wondering if there is a figure that DOES NOT satisfy the free disposal assumption? Any leads will be great.
Thanks!
This is something you can figure out yourself. If you have not yet tried, I encourage you to do so.
Draw any set $H in mathbb{R}^n $. Select any point $x$ of set. Is the set of all points $y$ "under" this point $x$, that is
$$
left{yin mathbb{R}^n | y << x right},
$$
a subset of $H$?
If no, free disposal is violated.
If yes, remove any of these points from $H$. The reduced set now violates free disposal.
For a figure of such a set, you can consider the Mercedes logo:
Answered by Giskard on July 8, 2021
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