Arbeitspapier
Stochastic Complementarity
The Hicksian definition of complementarity and substitutability may not apply in contexts in which agents are not utility maximisers or where price or income variations, whether implicit or explicit, are not available. We look for tools to identify complementarity and substitutability satisfying the following criteria: they are behavioural (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.
- Language
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Englisch
- Bibliographic citation
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Series: IZA Discussion Papers ; No. 11296
- Classification
-
Wirtschaft
- Subject
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complements and substitutes
correlation
stochastic choice
- Event
-
Geistige Schöpfung
- (who)
-
Manzini, Paola
Mariotti, Marco
Ülkü, Levent
- Event
-
Veröffentlichung
- (who)
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Institute of Labor Economics (IZA)
- (where)
-
Bonn
- (when)
-
2018
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Manzini, Paola
- Mariotti, Marco
- Ülkü, Levent
- Institute of Labor Economics (IZA)
Time of origin
- 2018
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