IDEAS home Printed from https://ideas.repec.org/a/the/publsh/5686.html
   My bibliography  Save this article

Unified gross substitutes and inverse isotonicity for equilibrium problems

Author

Listed:
  • Galichon, Alfred

    (Department of Economics, NYU and Sciences Po)

  • Samuelson, Larry

    (Department of Economics, Yale University)

  • Vernet, Lucas

    (Banque de France)

Abstract

We introduce a notion of substitutability for correspondences and establish a monotone comparative static result. More precisely, we introduce the notions of unified gross substitutes and nonreversingness and show that if Q : P ⇒ Q is a supply correspondence defined on a set of prices P which is a sublattice of RN , and Q satisfies these two properties, then the set of equilibrium prices Q−1(q) associated with a vector of quantities q ∈ Q is a sublattice of P and is increasing (in the strong set order) in q. We establish connections between our notion of substitutes and existing notions, and examine applications such as the structure of inverse demand, profit maximization, the structure of competitive equilibria, matching games, hedonic pricing, and routing problems.

Suggested Citation

  • Galichon, Alfred & Samuelson, Larry & Vernet, Lucas, 0. "Unified gross substitutes and inverse isotonicity for equilibrium problems," Theoretical Economics, Econometric Society.
    • Handle: RePEc:the:publsh:5686
    as

    Download full text from publisher

    File URL: http://econtheory.org/ojs/index.php/te/article/viewForthcomingFile/5686/40719/1
    File Function: Working paper version. Paper will be copyedited and typeset before publication.
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Substitutes; inverse isotonicity; m-function; correspondence; monotone comparativce statics; equilibrium flow;
    All these keywords.

    JEL classification:

    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:the:publsh:5686. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Martin J. Osborne (email available below). General contact details of provider: http://econtheory.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.