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Comparative Statics, English Auctions and the Stolper-Samuelson Theorem

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Author Info
Federico Echenique (Departmento de Economía, Facultad de Ciencias Sociales, Universidad de la República and California Institute of Technology, Pasadena CA 91125, USA.)
Alejandro Manelli (Department of Economics, Arizona State University, Tempe, AZ 85287-3806, USA)

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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 Stolper-Samuelson Theorem for an n × n trade model.

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Paper provided by Department of Economics - dECON in its series Documentos de Trabajo (working papers) with number 0503.

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Length: 20 pages
Date of creation: Sep 2003
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Handle: RePEc:ude:wpaper:0503

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Find related papers by JEL classification:
C60 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - General
D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
F11 - International Economics - - Trade - - - Neoclassical Models of Trade

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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. 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. 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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  3. 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)
  4. 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!]
  5. Milgrom, P. & Shannon, C., 1991. "Monotone Comparative Statics," Papers 11, Stanford - Institute for Thoretical Economics.
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  6. 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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  7. 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)
  8. 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)
  9. 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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  10. 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!]
  11. 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)
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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. 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!]
  2. 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!]
  3. 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:
  4. 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:
  5. 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:
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