Prove Lemma 9.3. Hint: Let x = y+. Note that f (t) = t is a concave
Question:
Prove Lemma 9.3.
Hint: Let x = y+δ. Note that f (t) = tα is a concave function when 0 α 1, and use the fact that for a concave function f (t + h) − f (t) is decreasing in t.
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