Comparative Statics, English Auctions and the Stolper-Samuelson Theorem
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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- Federico Echenique & Alejandro Manelli, 2003.
"Comparative Statics, English Auctions and the Stolper-Samuelson Theorem,"
Documentos de Trabajo (working papers)
0503, Department of Economics - dECON.
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"English auctions and the Stolper-Samuelson theorem,"
Journal of Economic Theory,
Elsevier, vol. 144(2), pages 825-849, March.
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