Unified gross substitutes and inverse isotonicity for equilibrium problems

• 成果类型: Article
• 署名作者: Galichon, Alfred; Samuelson, Larry; Vernet, Lucas
• 署名单位: New York University; New York University; Yale University; European Central Bank; Bank of France
• 刊物名称: THEORETICAL ECONOMICS
• ISSN/ISSBN: 1933-6837
• DOI: 10.3982/TE5686
• 发表日期: 2025-07-01
• 页码: 941-971
• 关键词: Substitutes; inverse isotonicity; correspondence; M-function; monotone comparative statics; equilibrium flow; C6; D4; D5

摘要

We introduce a notion of substitutability for correspondences and establish a monotone comparative static result. More precisely, we introduce the notions of unified gross substitutes and nonreversingness and show that if Q:P paired right arrows Q is a supply correspondence defined on a set of prices P, which is a sublattice of RN, and Q satisfies these two properties, then the set of equilibrium prices Q-1(q) associated with a vector of quantities q is an element of Q is a sublattice of P and is increasing (in the strong set order) in q. We establish connections between our notion of substitutes and existing notions, and examine applications such as the structure of inverse demand, profit maximization, the structure of competitive equilibria, matching games, hedonic pricing, and routing problems.