Complementarity with complete but P-acyclic preferences
This paper extends the formulation of complementarity in Milgrom and Shannon (1994) to the case of complete but P-acyclic preferences. In such a case, quasi-supermodularity and the single-crossing property on their own do not guarantee monotone comparative statics or equilibrium existence: an additional condition, monotone closure, is required.
Year of publication: |
2011
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Authors: | Ghosal, Sayantan |
Published in: |
Mathematical Social Sciences. - Elsevier, ISSN 0165-4896. - Vol. 62.2011, 2, p. 120-122
|
Publisher: |
Elsevier |
Saved in:
Online Resource
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