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On Smithson's fixed point theorem for order preserving multifunctions
Journal article   Open access   Peer reviewed

On Smithson's fixed point theorem for order preserving multifunctions

Haruki Kono and Mark Voorneveld
Economics Letters, Vol.263, p.112917
2026-05-01

Abstract

Fixed point theorem Multifuction Partially ordered set
Fixed point theorems are ubiquitous in economic research. Many studies cite Smithson (1971) "Fixed points of order preserving multifunctions", yet the original proof contains errors. This note presents a new, concise proof and explains why Smithson's argument is invalid. It also contains new results on the structure of the set of fixed points and monotone comparative statics.
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