Monotone comparative statics under uncertainty.
This paper analyzes montone comparative statics predictions in several classes of stochastic optimization problems. The main results characterize necessary and sufficient conditions for comparative statics predictions to hold based on properties of primitive functions, that is, utility functions and...
| Publicado en: | Quarterly Journal of Economics Vol. 117; no. 1; pp. 187 - 224 |
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| Formato: | Artículo |
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Oxford University Press / UK
February 2002
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=513128675&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 513128675 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00335533 QJE jtl: Quarterly Journal of Economics issn: 00335533 maglogo: N pubinfo: dt: February 2002 vid: 117 iid: 1 pid: 622 pub: Oxford University Press / UK artinfo: ui: 513128675 10.1162/003355302753399481 ppf: 187 ppct: 37 formats: tig: atl: Monotone comparative statics under uncertainty. aug: au: Athey, Susan su: Statics & dynamics (Social sciences) Stochastic processes Uncertainty Economics sug: subj: Statics & dynamics (Social sciences) Stochastic processes Uncertainty Economics ab: This paper analyzes montone comparative statics predictions in several classes of stochastic optimization problems. The main results characterize necessary and sufficient conditions for comparative statics predictions to hold based on properties of primitive functions, that is, utility functions and probability distributions. The results apply when the primitives satisfy one of the following two properties: (i) a single-crossing property, which arises in applications such as portfolio investment problems and auctions, or (ii) log-supermodularity, which arises in the analysis of demand functions, affiliated random variables, stochastic orders, and orders over risk aversion. Reprinted by permission of the publisher. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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