Convexity of the value function

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Reference no: EM131582708

Question: Prove Theorem.

Theorem: Convexity of the value function. Consider the following problem and the associated value function:

v(α) = max{f(x; α); g(x) ≥ 0}

where α ε Ω a convex set. (Note that the parameters do not enter the constraint function.) If the objective function is convex in the parameters a for any given x, then V( ) is convex.

Reference no: EM131582708

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