Directional Monotone Comparative Statics
Anne-Christine Barthel and
Tarun Sabarwal ()
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Anne-Christine Barthel: Department of Economics, The University of Kansas
No 201601, WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS from University of Kansas, Department of Economics
Many questions of interest in economics can be stated in terms of monotone comparative statics: If a parameter of a constrained optimization problem increases, when does its solution increase as well. This paper characterizes monotone comparative statics in different directions in finite-dimensional Euclidean space. These new characterizations are ordinal and retain the same flavor as their counterparts in the standard theory, showing new connections to the standard theory. The results are highlighted by several applications in consumer theory, producer theory and game theory. These applications were previously outside the scope of the standard theory of monotone comparative statics.
Keywords: monotone comparative statics; directional single-crossing property; directional set order (search for similar items in EconPapers)
JEL-codes: C61 C70 D00 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mic
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Persistent link: http://EconPapers.repec.org/RePEc:kan:wpaper:201601
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