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The Comparative Statics of Constrained Optimization Problems.

Abstract:

This paper develops and applies some new results in the theory of monotone comparative statics. Let f be a real-valued function defined on R[superscript l] and consider the problem of maximizing f(x) when x is constrained to lie in some subset C of R[superscript l]. We develop a natural way to order the constraint sets C and find the corresponding restrictions on the objective function f that guarantee that optimal solutions increase with the constraint set. We apply our techniques to problem...

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Journal:
Econometrica
Volume:
75
Issue:
2
Publication date:
2007-01-01
DOI:
URN:
uuid:c36d39b3-fd56-43d6-983d-9dee22d3f3f3
Local pid:
oai:economics.ouls.ox.ac.uk:12564
Language:
English

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