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논문 리스트

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.

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