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Comparative Statics with Concave and Supermodular Functions

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  • John K.-H. Quah

Abstract

Certain problems in comparative statics, including (but not exclusively) certain problems in consumer theory, cannot be easily addressed by the methods of lattice programming. One reason for this is that there is no order on the choice space which orders choices in a way which conforms with the comparison desired, and which also orders constraint sets in the strong set order it induces. The objective of this paper is to show how lattice progamming theory can be extended to deal with situations like these. We show that the interaction of concavity and supermodularity in objective or constraint functions yield a structure that is very useful for comparative statics.

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File URL: http://repec.org/esNASM04/up.13115.1075477995.pdf
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Paper provided by Econometric Society in its series Econometric Society 2004 North American Summer Meetings with number 358.

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Date of creation: 11 Aug 2004
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Handle: RePEc:ecm:nasm04:358

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Keywords: lattices; concavity; supermodularity; comparative statics; demand; normality;

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  1. Milgrom, Paul & Shannon, Chris, 1994. "Monotone Comparative Statics," Econometrica, Econometric Society, vol. 62(1), pages 157-80, January.
  2. Quah, John K. -H., 2003. "Market demand and comparative statics when goods are normal," Journal of Mathematical Economics, Elsevier, vol. 39(3-4), pages 317-333, June.
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Cited by:
  1. Elena Antoniadou, 2007. "Comparative Statics for the Consumer Problem," Economic Theory, Springer, vol. 31(1), pages 189-203, April.

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