Supermodularity and complementarity

The economics literature is replete with examples of monotone comparative statics; that is, scenarios where optimal decisions or equilibria in a parameterized collection of models vary monotonically with the parameter. Most of these examples are manifestations of complementarity, with a common expli...

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Bibliographic Details
Main Author Topkis, Donald M
Format eBook Book
LanguageEnglish
Published Princeton, N.J Princeton University Press 1998
Princeton Univ. Press
Edition1
SeriesFrontiers of economic research
Subjects
Decision making
Decision-making > Mathematical models
Entscheidungstheorie
Kooperatives Spiel
Mathematical models
Mathematik
Nichtkooperatives Spiel
Noncooperative games (Mathematics)
Spieltheorie
Theorie
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ISBN0691032440
9780691032443

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Summary:The economics literature is replete with examples of monotone comparative statics; that is, scenarios where optimal decisions or equilibria in a parameterized collection of models vary monotonically with the parameter. Most of these examples are manifestations of complementarity, with a common explicit or implicit theoretical basis in properties of a super-modular function on a lattice. Supermodular functions yield a characterization for complementarity and extend the notion of complementarity to a general setting that is a natural mathematical context for studying complementarity and monotone comparative statics. Concepts and results related to supermodularity and monotone comparative statics constitute a new and important formal step in the long line of economics literature on complementarity.
Bibliography:Includes bibliography (p. [263]-268) and index
ISBN:0691032440
9780691032443