economicsnerd
- 268
- 24
We can get a lot of good intuition for how first and second derivatives work by interpreting a sign restriction.
Let ##I\subseteq \mathbb R## be an interval and ##f:I\to\mathbb R##.
1) If ##f## is differentiable, then ##f## is monotone iff ##f'\geq 0## everywhere.
2) If ##f## is twice differentiable, then ##f## is convex iff ##f''\geq 0## everywhere.
Monotonicity and convexity are very nice for a couple reasons:
- They're easy to interpret/visualize. e.g. Convexity means all secants lie above the graph.
- They're both global properties.
- They're both easy to state without having defined a derivative.
Is there a similarly interpretable condition which is equivalent (when ##f## happens to be thrice differentiable) to ##f'''\geq0##? Ideally, I'd be interested in a condition which (like monotonicity and convexity) is global and makes no reference to differentiation.
Let ##I\subseteq \mathbb R## be an interval and ##f:I\to\mathbb R##.
1) If ##f## is differentiable, then ##f## is monotone iff ##f'\geq 0## everywhere.
2) If ##f## is twice differentiable, then ##f## is convex iff ##f''\geq 0## everywhere.
Monotonicity and convexity are very nice for a couple reasons:
- They're easy to interpret/visualize. e.g. Convexity means all secants lie above the graph.
- They're both global properties.
- They're both easy to state without having defined a derivative.
Is there a similarly interpretable condition which is equivalent (when ##f## happens to be thrice differentiable) to ##f'''\geq0##? Ideally, I'd be interested in a condition which (like monotonicity and convexity) is global and makes no reference to differentiation.
Last edited: