Comparative statics with adjustment costs and the Le Chatelier principle
We develop a theory of monotone comparative statics for models with adjustment costs. We show that comparative-statics conclusions may be drawn under the usual ordinal complementarity assumptions on the objective function, assuming very little about costs: only a mild monotonicity condition is requi...
| Main Authors: | , , |
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| Format: | Journal article |
| Language: | English |
| Published: |
Econometric Society
2024
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