Comparative statics of the multiple-asset problem 143
Portfolio Choices and Asset Prices: The Comparative Statics of Ambiguity Aversion
... unambiguous comparative static property of the introduction of ambigu- ity ...risky asset reduces the demand for it; and 2) in the KMM model, what are the conditions that guarantee that any increase in ...
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Portfolio Choices and Asset Prices: The Comparative Statics of Ambiguity Aversion
... established since Arrow (1963) and Pratt (1964) that an increase in risk aversion reduces demand for the risky asset. It is therefore quite surprising that in general, as shown in this paper, it is not ...
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Distributional Comparative Statics
... The paper begins in Section 2 by further motivating and exemplifying the DCS agenda. Sec- ond 2 also previews the paper’s main results without going into too much technical detail. The paper then turns to quasi-concave ...
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Maximization and Comparative Statics
... We may call x the decision variable and p the parameter, or we may call x the control and p the state, or we may say that x is endogenous and p is exogenous. The function f is called the objective function. Let x ∗ (p) ...
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Robust Comparative Statics in Contests
... zero, multiple symmetric equilibria may exist – at most two – but uniqueness is restored if payoff functions are differentiable and/or at least three players compete in the ...of comparative statics ...
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Comparative Statics of Altruism and Spite
... global comparative statics; see below) two equilibrium strategies can be compared only if they are connected in the strategy space by a curve whose points are equilibrium strategies for intermediate values ...
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Comparative Statics in a Herding Model of Investment
... Let us now introduce the changes to the Chamley and Gale framework. In Chamley and Gale both orders and processing of orders happen in discrete time. Whereas here, agents will place discrete-time state-contingent orders ...
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Distributional comparative statics with heterogeneous agents
... the problem of analyzing the comparative-statics with het- erogeneous agents at the general ...The problem is set up such that agents directly choose their respective equilibrium market ...
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Chapter 7: Optimal Inventory PolicyÑA Single Variable Unconstrained Optimization Problem with Comparative Statics
... Optimization Problem with Comparative Statics Background Just-In-Time Inventory (JIT) is a popular business management technique first developed in ...
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Statics problem solving strategies, hints and tricks
... Suppose you have a pressure vessel with the shape of a circle (radius r). Now cut it in half by a vertical line right through the middle. The pressure being exerted on the cut is of course 2r · p, where p is the pressure ...
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Generalized Comparative Statics for Political Economy Models
... maximization problem cannot be used in order to calculate the comparative statics of ...monotone comparative statics which is very ...my comparative statics result ...
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Matched Charitable Contributions: Comparative Statics and Equilibrium
... etc. The match rate is not restricted to integer-values. 3 K We will not take up, in this paper, the problem faced by the large agent, that is, the benefactor who matches others’ contributions. Instead, we ...
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Essays in Information Economics and Monotone Comparative Statics
... The reason that both frictions together induce inefficiency is as follows. We will show that under lim- ited liability, implementing an experiment while providing the agent zero rent requires paying wages that are ...
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Monotone comparative statics with separable objective functions
... 5. Application: Bayesian Cournot games This section deals with equilibrium existence in the undi¤erentiated Cournot model with a¢ liated types. A pure strategy Nash equilibrium is known to exist regardless of ...
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Comparative Statics by Adaptative Dynamics and the Correspondence Principle
... on comparative statics for de- cision problems where the results are established independently of the topological assumptions usually needed to guarantee ...
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Robust Comparative Statics in Large Dynamic Economies
... Consider, for example, an increase in β. At given Q, this is a positive shock and thus will increase the savings (asset holdings) of all households, raising the aggregate capital-labor ratio. As the aggregate ...
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Lecture 15: Comparative Statics Using The Ramsey Model
... • In the Solow model s is exogenous and could be higher or lower than α. But we can get some insight into the comparison between the two model by considering the optimal choice of s (in terms of maximizing consumption), ...
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Discussion Paper Series. Network Comparative Statics. Andrew Harkins
... contradicts optimality. This argument shows that if it is ever optimal to remove i it must be optimal to remove any j also previously linked to i, and so on throughout the network. 11 To conclude this section a brief ...
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Coordination in Network Security Games: a Monotone Comparative Statics Approach
... I. I NTRODUCTION Negligent users who do not protect their computer by regu- larly updating their antivirus software and operating system are clearly putting their own computers at risk. But such users, by connecting to ...
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The Mechanics of Dualistic Models: "Comparable" Structures and Comparative Statics Results
... 5. Multiple and Global Coverage in the Presence of Mobility Costs - The Bhagwati-Hamada Model 5.1. The Model In this section we want to quantify the effects of several changes in a two-sector model with ...
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