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Stochastic complementarity
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dc.contributor.author | Manzini, Paola | |
dc.contributor.author | Mariotti, Marco | |
dc.contributor.author | Ülkü, Levent | |
dc.date.accessioned | 2020-06-07T23:34:09Z | |
dc.date.available | 2020-06-07T23:34:09Z | |
dc.date.issued | 2019-04 | |
dc.identifier | 252596498 | |
dc.identifier | 715f275d-9ca4-418f-adf9-9ddafe05d228 | |
dc.identifier | 85068773071 | |
dc.identifier.citation | Manzini , P , Mariotti , M & Ülkü , L 2019 , ' Stochastic complementarity ' , The Economic Journal , vol. 129 , no. 619 , pp. 1343-1363 . https://doi.org/10.1111/ecoj.12601 | en |
dc.identifier.issn | 0013-0133 | |
dc.identifier.other | crossref: 10.1111/ecoj.12601 | |
dc.identifier.uri | https://hdl.handle.net/10023/20054 | |
dc.description | Levent Ulku acknowledges financial sup port from the Asociacion Mexicana de Cultura. | en |
dc.description.abstract | The Hicksian definition of complementarity and substitutability may not apply in contexts in which agents are not utility maximisers or where price or income variations, whether implicit or explicit, are not available. We look for tools to identify complementarity and substitutability satisfying the following criteria: they are behavioural (based only on observable choice data); model‐free (valid whether the agent is rational or not); and they do not rely on price or income variation. We uncover a conflict between properties that it is arguably reasonable for a complementarity notion to possess. We discuss three different possible resolutions of the conflict. | |
dc.format.extent | 466700 | |
dc.language.iso | eng | |
dc.relation.ispartof | The Economic Journal | en |
dc.subject | Complements and substitues | en |
dc.subject | Correlation | en |
dc.subject | Stochastic choice | en |
dc.subject | HB Economic Theory | en |
dc.subject | T-NDAS | en |
dc.subject.lcc | HB | en |
dc.title | Stochastic complementarity | en |
dc.type | Journal article | en |
dc.contributor.institution | University of St Andrews. School of Economics and Finance | en |
dc.identifier.doi | 10.1111/ecoj.12601 | |
dc.description.status | Peer reviewed | en |
dc.date.embargoedUntil | 2020-06-08 |
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