Complementarity with complete but P-acyclic preferences
AbstractThis paper extends the formulation of complementarity in Milgrom and Shannon (1994) to the case of complete but P-acyclic preferences. In such a case, quasi-supermodularity and the single-crossing property on their own do not guarantee monotone comparative statics or equilibrium existence: an additional condition, monotone closure, is required.
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Bibliographic InfoArticle provided by Elsevier in its journal Mathematical Social Sciences.
Volume (Year): 62 (2011)
Issue (Month): 2 (September)
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Web page: http://www.elsevier.com/locate/inca/505565
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