Monotone comparative statics: Changes in preferences vs changes in the feasible set
MPRA Paper from University Library of Munich, Germany
Let a preference ordering on a lattice be perturbed. As is well known, single crossing conditions are necessary and sufficient for a monotone reaction of the set of optimal choices from every chain. Actually, there are several interpretations of monotonicity and several corresponding single crossing conditions. We describe restrictions on the preferences that ensure a monotone reaction of the set of optimal choices from every sublattice whenever a perturbation of preferences satisfies the corresponding single crossing condition. Quasisupermodularity is necessary if we want monotonicity in every conceivable sense; otherwise, weaker conditions will do.
Keywords: strategic complementarity; monotone comparative statics; best response correspondence; single crossing; quasisupermodularity (search for similar items in EconPapers)
JEL-codes: C61 C72 (search for similar items in EconPapers)
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