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This definition defines monotonic increasing preferences. Monotonic decreasing preferences can often be defined to be compatible with this definition. For instance, an agent's preferences for pollution may be monotonic decreasing (less pollution is better). In this case, the agent's preferences for
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Given two products X and Y. If the agent is strictly preferred to X, it can get the equivalent statement that X is weakly preferred to Y and Y is not weakly preferred to X. If the agent is indifferent to X and Y, it can get the equivalent statement that X is weakly preferred to Y and Y is weakly
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preferred to X. If the agent is weakly preferred to X, it can get the equivalent statement that X is strictly preferred to Y or Y is indifferent to X.
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that have more of at least one good, and not less in any other good. That is,
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Monotonic function § Monotonicity in calculus and analysis
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Much of consumer theory relies on a weaker assumption,
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59:Learn how and when to remove this message
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