Complementarity with complete but P-acyclic preferences |
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Authors: | Sayantan Ghosal |
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Institution: | aUniversity of Warwick, United Kingdom |
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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. |
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