On testability of complementarity in models with multiple equilibria

Yoshiyasu Rai; Taisuke Otsu

doi:10.1016/j.econlet.2013.03.042

On testability of complementarity in models with multiple equilibria

Research output: Contribution to journal › Article › peer-review

Abstract

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 language	English
Pages (from-to)	79-82
Number of pages	4
Journal	Economics Letters
Volume	120
Issue number	1
DOIs	https://doi.org/10.1016/j.econlet.2013.03.042
Publication status	Published - 2013 Jul 1
Externally published	Yes

Keywords

Complementarity
Quantile
Testability

ASJC Scopus subject areas

Finance
Economics and Econometrics

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10.1016/j.econlet.2013.03.042

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abstract = "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.",

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AU - Otsu, Taisuke

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N2 - 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.

AB - 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.

KW - Complementarity

KW - Quantile

KW - Testability

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On testability of complementarity in models with multiple equilibria

Abstract

Keywords

ASJC Scopus subject areas

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