Comparative Statics, English Auctions, and the Stolper-Samuelson Theorem

Federico Echenique and Alejandro Manelli

No 1178, Working Papers from California Institute of Technology, Division of the Humanities and Social Sciences

Abstract: 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 Stopler-Samuelson Theorem for an n X n trade model.

Keywords: efficient auctions; international trade theory; implicit function theorem (search for similar items in EconPapers)
Pages: 15 pages
Date: 2003-09
New Economics Papers: this item is included in nep-pol
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Related works:
Working Paper: Comparative Statics, English Auctions and the Stolper-Samuelson Theorem (2003)
Working Paper: Comparative Statics, English Auctions, and the Stolper-Samuelson Theorem (2003)
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