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2010
COMPARATIVE STATICS UNDER UNCERTAINTY WITH THE MONOTONE PROBABILITY RATIO ORDER REVISITED
COMPARATIVE STATICS UNDER UNCERTAINTY WITH THE MONOTONE PROBABILITY RATIO ORDER REVISITED
한국경제학회
논문정보
- Publisher
- 경제학연구
- Issue Date
- 2010-06-30
- Keywords
- -
- Citation
- -
- Source
- -
- Journal Title
- -
- Volume
- 26
- Number
- 1
- Start Page
- 203
- End Page
- 222
- DOI
- ISSN
- 1226377X
Abstract
This paper proposes a ‘left-side monotone likelihood ratio’ (L-MLR)
order which is a more restrictive concept than the ‘monotone probability
ratio’ (MPR) order and generalizes the comparative static result for the
MPR change to the non-linear case in the standard one-argument
decision model. The L-MLR defines an order on random distribution that
lies between ‘monotone likelihood ratio’ (MLR) and MPR. Transitivity,
however, does not hold for L-MLR and we show that an important
relationship exists between the orders, L-MLR and MPR. This paper also
shows that an MPR change can always be decomposed into a sequence of
L-MLR shifts.
- 전남대학교
- KCI
- 경제학연구
저자 정보
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