On testability of complementarity in models with multiple equilibria

Yoshiyasu Rai, Taisuke Otsu

Research output: Contribution to journalArticlepeer-review


This paper revisits testability of complementarity in economic models with multiple equilibria studied by Echenique and Komunjer (2009). We find that Echenique and Komunjer's (2009) testable implications on extreme quantiles can be implied by a weaker version of their tail condition without complementarity, and on the other hand, a slightly stronger version of complementarity implies their testable implications without the tail condition.

Original languageEnglish
Pages (from-to)79-82
Number of pages4
JournalEconomics Letters
Issue number1
Publication statusPublished - 2013 Jul 1
Externally publishedYes


  • Complementarity
  • Quantile
  • Testability

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics


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