Comparative Statics, English Auctions, and the Stolper-samuelson Theorem

English auctions and the Stolper-Samuelson theorem

We prove that the English auction (with bidders that need not be ex ante identical and may have interdependent valuations) has an efficient ex post equilibrium. We establish this result for environments where it has not been previously obtained. We also prove two versions of the Stolper-Samuelson theorem, one for economies with n goods and n factors, and one for non-square economies. Similar as...

Can the Stolper-Samuelson Theorem explain relative wage movements? Evidence from Mexico

Rising wage inequality and increasing international trade have renewed interest in the empirical relevance of the Stolper-Samuelson theorem. Although a brilliant theoretical accomplishment, the Stolper-Samuelson theorem has received little empirical support. U.S. studies have generated mixed results partially because prices are endogenous in a large country. This paper examines the link between...

An Inframarginal Analysis of the Heckscher-Olin Model with Transaction Costs and Technological Comparative Advantage

In the paper we introduce technological comparative advantage and transaction costs into the Heckscher-Olin (HO) model and refine the HO theorem, the Stolper-Samuelson theorem, the Rybczynski theorem, and factor equalization theorem. The refined core theorems can be used to accommodate recent empirical evidence that is at odds with the core theorems.

A Generalisation of the Stolper- Samuelson Theorem with Diversified Households: a Tale of Two Matrices

Past attempts to generalise the Stolper-Samuelson Theorem have used a matrix of real income terms which is sufficient but not necessary to define a change in utility. In contrast, one can define a second matrix of terms which are necessary and sufficient for a change in indirect utility. Using this matrix, the paper presents an extension of the Stolper-Samuelson Theorem to a model of any dimens...

Protection and Real Wages: The Stolper-Samuelson Theorem