Workshop

The 2022 LEMMA Workshop in Monetary Theory

June 17, 2022, Paris
Program

10:00 – 11:00 : “On the Inherent Fragility of DeFi Lending", Shengxing Zhang, London School of Economics (joint paper with Jonathan Chiu, Emre Ozdenoren, and Kathy Yuan)

11:00 – 12:00 : “Central bank account for all: Efficiency and risk taking”, Mariana Rojas Breu, Université Panthéon-Assas (joint paper with Cyril Monnet and Asgerdur Petursdottir)

Séminaires LEMMA

"Comparative statics with linear objectives: normal demand, monotone marginal costs, and ranking multi-prior beliefs"

John Quah - John Hopkins University
Mardi 14 juin 2022 - 11 h / 12 h
Lemma - 4 rue Blaise Desgoffe, 75006 Paris. Salle Maurice Desplas

Abstract:
We formulate a set order on constraint sets which guarantee that linear objective functions on these sets have solutions that vary monotonically in the product order as the constraint set changes with respect to this set order.  Using this result, we characterize the utility/production functions that exhibit complementarity/substitutability in factor demand, normality in factor demand, and marginal costs that increase with factor prices.   In the context of decision-making under uncertainty, our new set order leads to natural generalizations of first order stochastic dominance in multi-prior models

Chercheurs invités

Welcome to John Quah. June 2022
He is a Professor of Economics at Johns Hopkins University and also Professor of Economics at the National University of Singapore. He completed his doctoral studies at the University of California at Berkeley and his bachelor degree at the  National University of Singapore. Since 2016 he has been a Fellow of the Society for the Advancement of Economic Theory. Since 2020, he has been a Fellow of the Econometric Society. He currently serves as co-editors for Economic Theory and Journal of Mathematical Economics.
His work in economic theory focuses on revealed preference analysis and on the theory and applications of monotone comparative statics. He is also interested in, and has worked on, issues in demand aggregation, general equilibrium, and environmental economics.

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