Some Results on Comparative Statics under Uncertainty

Abstract

This paper presents results on comparative statics for a class of decision problems under uncertainty. Necessary and sufficient conditions are derived for parameter changes and stochastically dominant shifts in the return in the two-asset portfolio problem. These results give conditions for the demand for money to be inversely related to the rate of interest. Further applications include the qualitive behavior of aggregate savings under uncertainty and the production decision of a firm facing price uncertainty. Copyright 1987 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

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