Comparative Statics of Money-goods Specifications of the Utility Function
نویسندگان
چکیده
منابع مشابه
Comparative Statics of Money-Goods Specifications of the Utility Function
The introduction of real-cash balances into the neoclassical model of the consumer wrecks havoc, in general, on the empirically observable refutable comparative statics properties of the model. We provide the most general solution of this problem to date by deriving a symmetric and negative semidefinite generalized Slutsky matrix that is empirically observable and which contains all other such ...
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This paper builds upon Caplin and Leahy [2010], which introduced a new mathematical apparatus for understanding NTU allocation markets, as such covering the housing market and other markets for large indivisible goods. In the current paper we complete the study of comparative statics initiated therein. We introduce homotopy methods to characterize how equilibrium changes in response to arbitrar...
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Researchers have shown that many, though not all, of the basic results of expected utility analysis can be more or less directly generalized to non-expected utility preferences. This paper describes the essential difference between results which can be extended in this manner and those which cannot and shows that an important family of comparative statics theorems falls into the former class. J...
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ژورنال
عنوان ژورنال: Journal of Economics
سال: 2002
ISSN: 0931-8658,1617-7134
DOI: 10.1007/s007120200051