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Published February 2004 | Accepted Version
Journal Article Open

A weak correspondence principle for models with complementarities


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.

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.

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