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Comparative Statics, Informativeness, and the Interval Dominance Order.

Abstract:

We identify a natural way of ordering functions, which we call the interval dominance order and develop a theory of monotone comparative statics based on this order. This way of ordering functions is weaker than the standard one based on the single crossing property (Milgrom and Shannon, 1994) and so our results apply in some settings where the single crossing property does not hold. For example, they are useful when examining the comparative statics of optimal stopping time problems. We also...

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Publisher:
Nuffield College (University of Oxford)
Series:
Nuffield College Economics Working Papers
Publication date:
2007-01-01
Language:
English
UUID:
uuid:fb0286a7-2b93-4346-bb78-135ae72afa25
Local pid:
oai:economics.ouls.ox.ac.uk:14831
Deposit date:
2011-08-16

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