Perhaps I’m confused, but I thought that the inequality you described simply refers to a utility function with convex preferences (i.e. diminishing returns).
I agree in general that discontinuity does not by itself entail the ability to be money-pumped—this should be trivially true from utility functions over strictly complementary goods.
Perhaps I’m confused, but I thought that the inequality you described simply refers to a utility function with convex preferences (i.e. diminishing returns).
I agree in general that discontinuity does not by itself entail the ability to be money-pumped—this should be trivially true from utility functions over strictly complementary goods.