Monotonicity and the Roy Model
In this note we study the implications on a bivariate normal Roy Model of two sets of monotonicity hypotheses proposed recently by Manski and Pepper (2000). In that simple context, we show that these hypotheses imply strong restrictions on the correlations structure between the decision and the rewards.
|Date of creation:||May 2002|
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|Publication status:||Published in The Manchester School, Vol. 72(4), July 2004, pages 560-567. [ doi:10.1111/j.1467-9957.2004.00408.x ]|
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