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ERIC Number: EJ877849
Record Type: Journal
Publication Date: 2010
Pages: 17
Abstractor: As Provided
Reference Count: 33
ISSN: ISSN-0022-0485
The Neglect of Monotone Comparative Statics Methods
Tremblay, Carol Horton; Tremblay, Victor J.
Journal of Economic Education, v41 n2 p177-193 2010
Monotone methods enable comparative static analysis without the restrictive assumptions of the implicit-function theorem. Ease of use and flexibility in solving comparative static and game-theory problems have made monotone methods popular in the economics literature and in graduate courses, but they are still absent from undergraduate mathematical economics courses and textbooks. In this article, the authors illustrate the generality of monotone comparative statics relative to the implicit function approach. For example, to sign the effect of a discrete policy shift on a choice variable, the marginal returns will increase with the policy parameter. They also apply monotone methods in game theory settings. As mathematical economics courses and majors gain popularity, incorporating monotone methods into curriculum and textbooks would provide a modern treatment of comparative static analysis. (Contains 8 figures and 23 notes.)
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Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A