Strict Monotonicity in Comparative Statics
Abstract
This note provides sufficient conditions to draw strict monotone comparative statics conclusions in optimization problems. These results extend the lattice-theoretic results of Milgrom and Shannon (1994) by imposing a stronger differential version of the single crossing property and arguing from first- order conditions. We illustrate the importance of these results through examples involving holdup problems and optimal tax problems.(This abstract was borrowed from another version of this item.)
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Bibliographic Info
Article provided by Elsevier in its journal Journal of Economic Theory.
Volume (Year): 81 (1998)
Issue (Month): 1 (July)
Pages: 201-219
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Web page: http://www.elsevier.com/locate/inca/622869
Related research
Keywords:Other versions of this item:
- Aaron S. Edlin and Chris Shannon., 1995. "Strict Monotonicity in Comparative Statics," Economics Working Papers 95-238, University of California at Berkeley.
References
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- Milgrom, P. & Shannon, C., 1991.
"Monotone Comparative Statics,"
Papers
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- Aaron S. Edlin & Stefan Reichelstein, 1997.
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- Edlin, Aaron S & Reichelstein, Stefan, 1996. "Holdups, Standard Breach Remedies, and Optimal Investment," American Economic Review, American Economic Association, vol. 86(3), pages 478-501, June.
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