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Comparative Statics, English Auctions, and the Stolper-Samuelson Theorem

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Author Info
Echenique, Federico
Manelli, Alejandro M.

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Abstract

Changes in the parameters of an n-dimensional system of equations induce changes in its solutions. For a class of such systems, we determine the qualitative change in solutions given certain qualitative changes in parameters. Our methods and results are elementary yet useful. They highlight the existence of a common thread, our "own effect" assumption, in formally diverse areas of economics. We discuss several applications; among them we establish the existence of efficient equilibria in English auctions with interdependent valuations, and a version of the Stopler-Samuelson Theorem for an n X n trade model.

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Paper provided by California Institute of Technology, Division of the Humanities and Social Sciences in its series Working Papers with number 1178.

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Length: 15 pages
Date of creation: Sep 2003
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Publication status: Published:
Handle: RePEc:clt:sswopa:1178

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Postal: Working Paper Assistant, Division of the Humanities and Social Sciences, 228-77, Caltech, Pasadena CA 91125
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Related research
Keywords: efficient auctions; international trade theory; implicit function theorem;

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This paper has been announced in the following NEP Reports: References listed on IDEAS
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  1. Jones, Ronald W & Scheinkman, Jose A, 1977. "The Relevance of the Two-Sector Production Model in Trade Theory," Journal of Political Economy, University of Chicago Press, vol. 85(5), pages 909-35, October. [Downloadable!] (restricted)
  2. McAfee, R Preston & McMillan, John, 1987. "Auctions and Bidding," Journal of Economic Literature, American Economic Association, vol. 25(2), pages 699-738, June. [Downloadable!] (restricted)
  3. Milgrom, Paul & Shannon, Chris, 1994. "Monotone Comparative Statics," Econometrica, Econometric Society, vol. 62(1), pages 157-80, January. [Downloadable!] (restricted)
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  4. Echenique, Federico & Manelli, Alejandro M., 2003. "Comparative Statics, English Auctions, and the Stolper-Samuelson Theorem," Working Papers 1178, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
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  5. Carlos Casacuberta & Ianina Rossi & Máximo Rossi, 2003. "El arte y el éxito: un matrimonio incómodo," Documentos de Trabajo (working papers) 0303, Department of Economics - dECON. [Downloadable!]
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  6. Robert Wilson, 1998. "Sequential equilibria of asymmetric ascending auctions: The case of log-normal distributions," Economic Theory, Springer, vol. 12(2), pages 433-440. [Downloadable!] (restricted)
  7. Alvaro Forteza & Daniel Buquet & Mario Ibarburu & Jorge Lanzaro & Andrés Pereyra & Eduardo Siandra & Marcel Vaillant, 2003. "Understanding reform. The Uruguayan case," Documentos de Trabajo (working papers) 0603, Department of Economics - dECON. [Downloadable!]
  8. Silvia Laens & Inés Terra, 2003. "Integration of the Americas: Welfare Effects and Options for the MERCOSUR," Documentos de Trabajo (working papers) 0903, Department of Economics - dECON. [Downloadable!]
  9. Chipman, John S, 1969. "Factor Price Equalization and the Stolper-Samuelson Theorem," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 10(3), pages 399-406, October. [Downloadable!] (restricted)
  10. Milgrom, Paul R & Weber, Robert J, 1982. "A Theory of Auctions and Competitive Bidding," Econometrica, Econometric Society, vol. 50(5), pages 1089-1122, September. [Downloadable!] (restricted)
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  11. Ethier, Wilfred J., 1984. "Higher dimensional issues in trade theory," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 1, chapter 3, pages 131-184 Elsevier. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Carlos Casacuberta & Ianina Rossi & Máximo Rossi, 2003. "El arte y el éxito: un matrimonio incómodo," Documentos de Trabajo (working papers) 0303, Department of Economics - dECON. [Downloadable!]
    Other versions:
  2. Andrés Pereyra, 2003. "Competencia en telefonía móvil en Uruguay: diseño de subastas, contratos y marco institucional," Documentos de Trabajo (working papers) 0103, Department of Economics - dECON. [Downloadable!]
  3. Cecilia González & Máximo Rossi, 2003. "Participación femenina en el mercado de trabajo: efectos sobre la distribución del ingreso en el Uruguay," Documentos de Trabajo (working papers) 1203, Department of Economics - dECON. [Downloadable!]
    Other versions:
  4. Federico Echenique & Alejandro Manelli, 2003. "Comparative Statics, English Auctions and the Stolper-Samuelson Theorem," Documentos de Trabajo (working papers) 0503, Department of Economics - dECON. [Downloadable!]
    Other versions:
  5. Marisa Bucheli & Máximo Rossi, 2003. "El grado de conformidad con la vida: evidencia para las mujeres del Gran Montevideo," Documentos de Trabajo (working papers) 1003, Department of Economics - dECON. [Downloadable!]
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