Monotone comparative statics: changes in preferences versus changes in the feasible set |
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Authors: | Nikolai S Kukushkin |
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Institution: | 1. Russian Academy of Sciences, Dorodnicyn Computing Center, 40, Vavilova, Moscow, 119333, Russia
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Abstract: | 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. |
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