Comparative Statics with Concave and Supermodular Functions
AbstractCertain 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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Bibliographic InfoPaper provided by Econometric Society in its series Econometric Society 2004 North American Summer Meetings with number 358.
Date of creation: 11 Aug 2004
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lattices; concavity; supermodularity; comparative statics; demand; normality;
Other versions of this item:
- John Quah, 2004. "Comparative Statics with Concave and Supermodular Functions," Economics Series Working Papers 2004-W01, University of Oxford, Department of Economics.
- John K.-H. Quah, 2004. "Comparative Statics with Concave and Supermodular Functions," Economics Papers 2004-W01, Economics Group, Nuffield College, University of Oxford.
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
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- Milgrom, Paul & Shannon, Chris, 1994.
"Monotone Comparative Statics,"
Econometric Society, vol. 62(1), pages 157-80, January.
- 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.
- Elena Antoniadou, 2007. "Comparative Statics for the Consumer Problem," Economic Theory, Springer, vol. 31(1), pages 189-203, April.
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