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A weak correspondence principle for models with complementarities

Echenique, Federico (2004) A weak correspondence principle for models with complementarities. Journal of Mathematical Economics, 40 (1-2). pp. 145-152. ISSN 0304-4068.

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I prove that, in models with complementarities, some non-monotone comparative statics must select unstable equilibria; and, under additional regularity conditions, that monotone comparative statics selects stable equilibria.

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Additional Information:© 2003 Elsevier B.V. Received 18 September 2001; accepted 6 May 2003; Available online 13 August 2003. Discussions with my advisers, Ilya Segal and Chris Shannon, were very important for this work. I am very grateful for their help. I also thank Rabah Amir, Bob Anderson, Charles Púgh, Matthew Rabin, and seminar participants at UC Berkeley, the 2000 Conference in Honor of Rolf Mantel in Buenos Aires, and the 2000 World Congress of the Econometric Society. The exposition in the paper was improved by a referee’s suggestions.
Subject Keywords:Correspondence principle; Monotone comparative statics; Out-of-equilibrium dynamics
Classification Code:JEL classification codes: C61; C62; C72; C73
Record Number:CaltechAUTHORS:20101004-102525825
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Official Citation:Federico Echenique, A weak correspondence principle for models with complementarities, Journal of Mathematical Economics, Volume 40, Issues 1-2, Aggregation, Equilibrium and Observability in honor of Werner Hildenbrand, February 2004, Pages 145-152, ISSN 0304-4068, DOI: 10.1016/S0304-4068(03)00090-9. (
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:20274
Deposited By: Katherine Johnson
Deposited On:04 Oct 2010 20:40
Last Modified:26 Dec 2012 12:29

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