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COMPARATIVE STATICS, ENGLISH AUCTIONS, AND THE STOLPER-SAMUELSON THEOREM

By Federico Echenique, Alejandro and M. Manelli

Abstract

Abstract. Changes in the parameters of an n-dimensional system of equations induce changes in its solutions. For a class of such systems, we determine the qualitative change in solutions given certain qualitative changes in parameters. Our methods and results are elementary yet useful. They highlight the existence of a common thread, our “own effect ” assumption, in formally diverse areas of economics. We discuss several applications; among them, we establish the existence of efficient equilibria in English auctions with interdependent valuations, and a version of the Stolper-Samuelson Theorem for an n × n trade model. 1

Year: 2011
OAI identifier: oai:CiteSeerX.psu:10.1.1.199.6421
Provided by: CiteSeerX
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