Accession Number : AD0774091

Title :   A Theory of Money and Financial Institutions. Part XI: Trade with Fiat Money But no Individual Trust. A Preliminary Stage Towards Banking,

Corporate Author : YALE UNIV NEW HAVEN CONN COWLES FOUNDATION FOR RESEARCH IN ECONOMICS

Personal Author(s) : Shubik,Martin

Report Date : 30 OCT 1973

Pagination or Media Count : 26

Abstract : The paper contains several simple models which in some cases are worked out in detail. The paper is written in the belief that general equilibrium theory has more or less reached a dead end. The proof of the existence of a price system in a static, complete information, non-institutional economy was a valuable result in the study of production and distribution. The proof was based on important but by no means sufficiently general conditions to be a decent representation of more than a small part of economic life.

Descriptors :   *Banking, *Money, Economic models, Equilibrium(General), Game theory

Subject Categories : Economics and Cost Analysis

Distribution Statement : APPROVED FOR PUBLIC RELEASE