Comparing Optima: Do Simplifying Assumptions Affect Conclusions?
研究一类最大化模型,发现许多关于收益技术的简化假设下得到的比较静态结论,在一般(凸和非凸)技术下也成立。例如,风险厌恶决策者在不确定性下的投资结论,从线性预期收益推广到任意非线性函数仍成立。
Consider a family of maximization models in which the optimum trades off beneficial and costly effects. Then comparative statics derived under many kinds of simplifying assumptions about the benefits technology are also true for general (convex and nonconvex) technologies. For example, any comparative statics conclusion about investment by a risk-averse decisionmaker under uncertainty that holds when expected returns are described by a general linear function also holds for an arbitrary nonlinear expected return function. Copyright 1994 by University of Chicago Press.