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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| Veröffentlicht in: | Econometrica 2009-11, Vol.77 (6), p.1949-1992 |
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| Hauptverfasser: | , |
| Format: | Artikel |
| Sprache: | eng |
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| container_end_page | 1992 |
|---|---|
| container_issue | 6 |
| container_start_page | 1949 |
| container_title | Econometrica |
| container_volume | 77 |
| creator | Quah, John K.-H. Strulovici, Bruno |
| description | 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. |
| doi_str_mv | 10.3982/ECTA7583 |
| format | Article |
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| identifier | ISSN: 0012-9682 |
| ispartof | Econometrica, 2009-11, Vol.77 (6), p.1949-1992 |
| issn | 0012-9682 1468-0262 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_753834010 |
| source | Jstor Complete Legacy; Wiley Online Library Journals Frontfile Complete; JSTOR Mathematics & Statistics |
| subjects | Applications Atoms Bayesian analysis capital deepening Capital stocks Comparative analysis comparative statics complete class theorem Decision theory Economic theory Exact sciences and technology Expected utility Increasing functions informativeness Insurance, economics, finance interval dominance order Investors Local maximum Mathematical functions Mathematical models Mathematics optimal stopping time Probability and statistics Probability theory and stochastic processes Sciences and techniques of general use Sequential methods Single crossing property statistical decision theory Statistical theories Statistics Stochastic processes Stopping distances Studies supermodularity Uncertainty |
| title | Comparative Statics, Informativeness, and the Interval Dominance Order |
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