Showing 111 - 120 of 149
Certain problems in comparative statics, including (but not exclusively) certain problems in consumer theory, cannot be easily addressed by the methods of lattice programming. One reason for this is that there is no order on the choice space which orders choices in a way which conforms with the...
Persistent link: https://www.econbiz.de/10010820331
This paper gives a non-fixed point theoretic proof of equilibrium existence when the excess demand function of an exchange economy obeys the weak axiom. The proof is simple and geometrically intuitive, and it also permits a weakening of the continuity assumption on the excess demand function....
Persistent link: https://www.econbiz.de/10010820345
We show that an agent maximizing some utility function on a discrete (as opposed to continuous) consumption space will obey the generalized axiom of revealed preference (GARP) so long as the agent obeys cost efficiency. Cost efficiency will hold if there is some good, outside the set of goods...
Persistent link: https://www.econbiz.de/10010827625
Persistent link: https://www.econbiz.de/10010728083
We identify necessary and sufficient conditions under which a finite data set of price vectors and consumption bundles can be rationalized by a weakly separable utility function.  Our result could be understood as a generalization of Afriat's Theorem.
Persistent link: https://www.econbiz.de/10011004141
Consider a finite data set of price vectors and consumption bundles; under what conditions will there be a weakly separable utlity function that rationalizes the data?  This paper shows that rationalization in this sense is possible if and only if there exists a preference order on some finite...
Persistent link: https://www.econbiz.de/10011004216
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,...
Persistent link: https://www.econbiz.de/10011004221
The theoretical literature on (non-random) choice largely follows the route of Richter (1966) by working in abstract environments and by stipulating that we see all choices of an agent from a given feasible set.  On the other hand, empirical work on consumption choice using revealed preference...
Persistent link: https://www.econbiz.de/10011004245
This paper examines the operation of an emissions trading scheme (ETS) in a Cournot oligopoly.  We study the impact of the ETS on industry output, price, costs, emissions, and profits.  In particular, we develop formulae for the number of emissions permits that have to be freely allocated to...
Persistent link: https://www.econbiz.de/10011004312
Suppose we observe a finite number of input decisions made by a firm, as well as the prices at which those inputs were acquired.  What conditions on the set of observations are necessary and sufficient for it to be consistent with a firm choosing inputs to maximize profit, subject to a...
Persistent link: https://www.econbiz.de/10011004469