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dc.contributor.authorManzini, Paola
dc.contributor.authorMariotti, Marco
dc.contributor.authorÜlkü, Levant
dc.date.accessioned2015-11-11T15:10:04Z
dc.date.available2015-11-11T15:10:04Z
dc.date.issued2017-03-12
dc.identifier.citationManzini , 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.issn0962-4031
dc.identifier.otherPURE: 194398766
dc.identifier.otherPURE UUID: 2287f3c9-ba54-442d-9fa6-3789358bdfcc
dc.identifier.urihttps://hdl.handle.net/10023/7771
dc.descriptionRevised March 2016, September 2016 and March 2017en
dc.description.abstractThe 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.extent39
dc.language.isoeng
dc.publisherUniversity of St Andrews
dc.relation.ispartofseriesSchool of Economics & Finance Discussion Paperen
dc.rightsCopyright (c)2016 the authorsen
dc.subjectComplements and substitutesen
dc.subjectCorrelationen
dc.subjectStochastic choiceen
dc.subjectHB Economic Theoryen
dc.subjectBDCen
dc.subjectR2Cen
dc.subject~DC~en
dc.subject.lccHBen
dc.titleStochastic complementarityen
dc.typeWorking or discussion paperen
dc.description.versionPublisher PDFen
dc.description.versionOtheren
dc.contributor.institutionUniversity of St Andrews. School of Economics and Financeen
dc.identifier.urlhttps://ideas.repec.org/p/san/wpecon/1505.htmlen


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