Monotone Comparative Statics under Uncertainty

S-Tier
Journal: Quarterly Journal of Economics
Year: 2002
Volume: 117
Issue: 1
Pages: 187-223

Score contribution per author:

8.043 = (α=2.01 / 1 authors) × 4.0x S-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

This paper analyzes monotone comparative statics predictions in several classes of stochastic optimization problems. The main results characterize necessary and sufficient conditions for comparative statics predictions to hold based on properties of primitive functions, that is, utility functions and probability distributions. The results apply when the primitives satisfy one of the following two properties: (i) a single-crossing property, which arises in applications such as portfolio investment problems and auctions, or (ii) log-supermodularity, which arises in the analysis of demand functions, affiliated random variables, stochastic orders, and orders over risk aversion.

Technical Details

RePEc Handle
repec:oup:qjecon:v:117:y:2002:i:1:p:187-223.
Journal Field
General
Author Count
1
Added to Database
2026-01-24