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Complementarity with complete but P-acyclic preferences

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  • Ghosal, Sayantan

Abstract

This paper extends the formulation of complementarity in Milgrom and Shannon (1994) to the case of complete but P-acyclic preferences. In such a case, quasi-supermodularity and the single-crossing property on their own do not guarantee monotone comparative statics or equilibrium existence: an additional condition, monotone closure, is required.

Suggested Citation

  • Ghosal, Sayantan, 2011. "Complementarity with complete but P-acyclic preferences," Mathematical Social Sciences, Elsevier, vol. 62(2), pages 120-122, September.
    • Handle: RePEc:eee:matsoc:v:62:y:2011:i:2:p:120-122
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    References listed on IDEAS

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    1. Shafer, Wayne & Sonnenschein, Hugo, 1975. "Equilibrium in abstract economies without ordered preferences," Journal of Mathematical Economics, Elsevier, vol. 2(3), pages 345-348, December.
    2. Milgrom, Paul & Shannon, Chris, 1994. "Monotone Comparative Statics," Econometrica, Econometric Society, vol. 62(1), pages 157-180, January.
    3. Norman Schofield, 1984. "Existence of Equilibrium on a Manifold," Mathematics of Operations Research, INFORMS, vol. 9(4), pages 545-557, November.
    4. Vives, Xavier, 1990. "Nash equilibrium with strategic complementarities," Journal of Mathematical Economics, Elsevier, vol. 19(3), pages 305-321.
    5. Bergstrom, Theodore C., 1975. "Maximal elements of acyclic relations on compact sets," Journal of Economic Theory, Elsevier, vol. 10(3), pages 403-404, June.
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    Cited by:

    1. Dalton, Patricio S. & Ghosal, Sayantan, 2013. "Characterizing Behavioral Decisions with Choice Datas," SIRE Discussion Papers 2013-86, Scottish Institute for Research in Economics (SIRE).
    2. Patricio Dalton & Sayantan Ghosal, 2012. "Decisions with endogenous frames," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 38(4), pages 585-600, April.
    3. Dalton, Patricio & Ghosal, Sayantan, 2018. "Self-fulfilling mistakes : Characterization and welfare," Other publications TiSEM 4ea1a236-5307-4b4b-b268-e, Tilburg University, School of Economics and Management.

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