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Stochastic complementarity
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dc.contributor.author | Manzini, Paola | |
dc.contributor.author | Mariotti, Marco | |
dc.contributor.author | Ülkü, Levant | |
dc.date.accessioned | 2015-11-11T15:10:04Z | |
dc.date.available | 2015-11-11T15:10:04Z | |
dc.date.issued | 2017-03-12 | |
dc.identifier.citation | Manzini , P , Mariotti , M & Ülkü , L 2017 ' Stochastic complementarity ' School of Economics & Finance Discussion Paper , no. 1505 , University of St Andrews , St Andrews . | en |
dc.identifier.issn | 0962-4031 | |
dc.identifier.other | PURE: 194398766 | |
dc.identifier.other | PURE UUID: 2287f3c9-ba54-442d-9fa6-3789358bdfcc | |
dc.identifier.uri | https://hdl.handle.net/10023/7771 | |
dc.description | Revised March 2016, September 2016 and March 2017 | 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 any complementarity notion should intuitively possess. We discuss three different possible resolutions of the conflict. | |
dc.format.extent | 39 | |
dc.language.iso | eng | |
dc.publisher | University of St Andrews | |
dc.relation.ispartofseries | School of Economics & Finance Discussion Paper | en |
dc.rights | Copyright (c)2016 the authors | en |
dc.subject | Complements and substitutes | en |
dc.subject | Correlation | en |
dc.subject | Stochastic choice | en |
dc.subject | HB Economic Theory | en |
dc.subject | BDC | en |
dc.subject | R2C | en |
dc.subject | ~DC~ | en |
dc.subject.lcc | HB | en |
dc.title | Stochastic complementarity | en |
dc.type | Working or discussion paper | en |
dc.description.version | Publisher PDF | en |
dc.description.version | Other | en |
dc.contributor.institution | University of St Andrews. School of Economics and Finance | en |
dc.identifier.url | https://ideas.repec.org/p/san/wpecon/1505.html | en |
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