We identify a natural way of ordering functions, which we call the interval dominance order and develop a theory of monotone comparative statistics based on this order.  This way of ordering functions is weaker than the standard one based on the single crossing property (Milgrom and Shannon,...

This paper analyzes collective decision making when individual preferences evolve through learning.  Votes are affected by their anticipated effect on future preferences.  The analysis is conducted in a two-arm bandit model with a safe alternative and a risky alternative whose payoff...

In many economic applications involving comparisons of multivariate distributions, supermodularity of an objective function is a natural property for capturing a preference for greater interdependence.  One multivariate distribution dominates another according to the supermodular stochastic...

This paper identifies two notions of substitutes for auction and equilibrium analysis. Weak substitutes, the usual price-theory notion, guarantees monotonicity of Tatonnement processes and convergence of clock auctions to a pseudo-equilibrium, but only strong substitutes, which treats each unit...

We present a model for the equilibrium movement of capital between asset markets that are distinguished only by the levels of capital invested in each. Investment in that market with the greatest amount of capital earns the lowest risk premium. Intermediaries optimally trade off the costs of...

We prove that under standard Lipschitz and growth conditions, the value function of all optimal control problems for one-dimensional diffusions is twice continuously differentiable, as long as the control space is compact and the volatility is uniformly bounded below, away from zero. Under...