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

  • Echenique, Federico
  • Manelli, Alejandro M.

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
Date of revision:
Publication status: Published:
Handle: RePEc:clt:sswopa:1178
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Order Information: Postal: Working Paper Assistant, Division of the Humanities and Social Sciences, 228-77, Caltech, Pasadena CA 91125

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  1. 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.
  2. 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.
  3. Federico Echenique & Alejandro Manelli, 2003. "Comparative Statics, English Auctions, and the Stolper-Samuelson Theorem," GE, Growth, Math methods 0309005, EconWPA.
  4. 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.
  5. Dubra, Juan & Echenique, Federico & Manelli, Alejandro M., 2009. "English auctions and the Stolper-Samuelson theorem," Journal of Economic Theory, Elsevier, vol. 144(2), pages 825-849, March.
  6. Milgrom, P. & Shannon, C., 1991. "Monotone Comparative Statics," Papers 11, Stanford - Institute for Thoretical Economics.
  7. 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.
  8. Robert Wilson, 1998. "Sequential equilibria of asymmetric ascending auctions: The case of log-normal distributions," Economic Theory, Springer, vol. 12(2), pages 433-440.
  9. Milgrom, Paul R & Weber, Robert J, 1982. "A Theory of Auctions and Competitive Bidding," Econometrica, Econometric Society, vol. 50(5), pages 1089-1122, September.
  10. McAfee, R Preston & McMillan, John, 1987. "Auctions and Bidding," Journal of Economic Literature, American Economic Association, vol. 25(2), pages 699-738, June.
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