A Simple Characterization of Supply Correspondences

Alexey Kushnir
Corresponding Author
Alexey Kushnir
[email protected]
https://orcid.org/0000-0001-8730-4071
Tepper School of Business, Carnegie Mellon University, Pittsburgh, Pennsylvania 15213;
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,
Vinod Krishnamoorthy
Vinod Krishnamoorthy
[email protected]
Carnegie Mellon University, Pittsburgh, Pennsylvania 15213
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Corresponding Author

Alexey Kushnir

Tepper School of Business, Carnegie Mellon University, Pittsburgh, Pennsylvania 15213;

Carnegie Mellon University, Pittsburgh, Pennsylvania 15213

Abstract

We prove that supply correspondences are characterized by two properties: the law of supply and being homogeneous of degree zero.

May 2024

Pages 653-1302, C2

Alexey Kushnir, Vinod Krishnamoorthy (2023) A Simple Characterization of Supply Correspondences. Mathematics of Operations Research 49(2):826-831.

Acknowledgments

The authors are thankful to Paul Milgrom for sharing lecture notes on producer choice theory that inspired this project.