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Stochastic Complementarity

Authors: Manzini, Paola; Mariotti, Marco; Ülkü, Levent;

Stochastic Complementarity

Abstract

The Hicksian definition of complementarity and substitutability may not apply in contexts in which agents are not utility maximisers or where price or income vari- ations, whether implicit or explicit, are not available. We look for tools to identify complementarity and substitutability satisfying the following criteria: they are be- havioural (based only on observable choice data); model-free (valid whether the agent is rational or not); and they do not rely on price or income variation. We uncover a conflict between properties that it is arguably reasonable for a complementarity notion to possess. We discuss three different possible resolutions of the conflict.

Country
United Kingdom
Keywords

HB Economic Theory, 330, Complements and substitues, ddc:330, /dk/atira/pure/core/keywords/econ_microeconomic_theory, T-NDAS, HB, Complements and substitutes; Correlation; Stochastic choice, name=ECON Microeconomic Theory, Complements and substitutes; Correlation; Stochastic choice., HB0135, HB0131, Correlation, D0, Stochastic choice, correlation, stochastic choice, Complements and substitutes, Complements and substitutes, Correlation, Stochastic choice, complements and substitutes, jel: jel:D01, jel: jel:D0

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
5
Average
Average
Top 10%
Green
hybrid
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