Comparative Statics, Informativeness, and the Interval Dominance Order

Comparative Statics, Informativeness, and the Interval Dominance Order

We identify a new way to order functions, called the interval dominance order, that generalizes both the single crossing property and a standard condition used in statistical decision theory. This allows us to provide a unified treatment of the major theorems on monotone comparative statics with and...

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Bibliographische Detailangaben
Veröffentlicht in:Econometrica. - Wiley. - 77(2009), 6, Seite 1949-1992
1. Verfasser: Quah, John K.-H. (VerfasserIn)
Weitere Verfasser: Strulovici, Bruno
Format: Online-Aufsatz
Sprache:English
Veröffentlicht: 2009
Zugriff auf das übergeordnete Werk:Econometrica
Schlagworte:Single crossing property interval dominance order supermodularity comparative statics optimal stopping time capital deepening complete class theorem statistical decision theory informativeness Behavioral sciences mehr... Economics Mathematics Applied sciences Physical sciences
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520 |a We identify a new way to order functions, called the interval dominance order, that generalizes both the single crossing property and a standard condition used in statistical decision theory. This allows us to provide a unified treatment of the major theorems on monotone comparative statics with and without uncertainty, the comparison of signal informativeness, and a non-Bayesian theorem on the completeness of increasing decision rules. We illustrate the concept and results with various applications, including an application to optimal stopping time problems where the single crossing property is typically violated. 
540 |a Copyright 2009 The Econometric Society 
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650 4 |a interval dominance order 
650 4 |a supermodularity 
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650 4 |a Economics  |x Economic disciplines  |x Financial economics  |x Finance  |x Financial instruments  |x Financial securities  |x Capital stocks 
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