Stochastic Complementarity

Paola Manzini, Marco Mariotti and Levent Ülkü

The Economic Journal, 2019, vol. 129, issue 619, 1343-1363

Abstract: The Hicksian definition of complementarity and substitutability may not apply in contexts in which agents are not utility maximisers or where price or income variations, whether implicit or explicit, are not available. We look for tools to identify complementarity and substitutability satisfying the following criteria: they are behavioural (based only on observable choice data); model-free (valid whether the agent is rational or not) and they do not rely on price or income variation. We uncover a conflict between properties that it is arguably reasonable for a complementarity notion to possess. We discuss three different possible resolutions of the conflict.

Date: 2019
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://hdl.handle.net/10.1111/ecoj.12601 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Stochastic Complementarity (2018)
Working Paper: Stochastic Complementarity (2015)
Working Paper: Stochastic Complementarity (2015)
Working Paper: Stochastic Complementarity (2015)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:econjl:v:129:y:2019:i:619:p:1343-1363.

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

The Economic Journal is currently edited by Francesco Lippi

More articles in The Economic Journal from Royal Economic Society Contact information at EDIRC.
Bibliographic data for series maintained by Oxford University Press () and ().