Editing Convex hull (section)

===Economics===
{{main|Convexity in economics}}
In the [[Arrow–Debreu model]] of [[general equilibrium|general economic equilibrium]], agents are assumed to have convex [[budget set]]s and [[convex preferences]]. These assumptions of [[convexity in economics]] can be used to prove the existence of an equilibrium.
When actual economic data is [[Non-convexity (economics)|non-convex]], it can be made convex by taking convex hulls. The [[Shapley–Folkman theorem]] can be used to show that, for large markets, this approximation is accurate, and leads to a "quasi-equilibrium" for the original non-convex market.<ref>{{harvtxt|Nicola|2000}}. See in particular Section 16.9, Non Convexity and Approximate Equilibrium, pp. 209–210.</ref>