Generalized monotonicity analysis

aggregation comparative dynamics comparative statics monotonicity directions parametric equation quantitative analysis selected functions of variables

Mathematics Subject Classification ID

Equations involving nonlinear operators (general) (47J05) Sensitivity, stability, parametric optimization (90C31) 2-person games (91A05) Production theory, theory of the firm (91B38) Consumer behavior, demand theory (91B42) Economic dynamics (91B55)

Review text

The authors consider a nonlinear equation \(f(x,t)=0,\) where \(x \in \mathbb R^{n}\) is a decision variable, \(t \in \mathbb R^{m}\) is a parameter, and \(f : \mathbb R^{n} \times \mathbb R^{m} \rightarrow \mathbb R^{n}\) is a smooth function and investigate monotonicity issues of the solution trajectory (path) \(x(t)\) (or some function \(\phi (x)\)) with respect to the parameter \(t\). Extending the results from the previous paper [J. Optim. Theory Appl. 137, No. 3, 641--673 (2008; Zbl 1229.90219)], they give conditions which provide existence of partial or full monotonicity paths, suggest a suitable selection method, and reveal some quantitative properties. Applications to equality constrained parametric optimization, optimal consumption, special two-player games, productivity estimation, and comparative dynamics are described.

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