Accession Number : AD0776710

Title :   A Theory of Money and Financial Institutions. Part XVIII. A Noncooperative Model of a Closed Trading Economy with Many Traders and Two Bankers,

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

Personal Author(s) : Shubik,Martin

Report Date : 19 MAR 1974

Pagination or Media Count : 20

Abstract : In previous papers Shapley and Shubik have formulated a noncooperative game model of a closed trading economy where one commodity is used as a means of payment. In the present paper the existence of a noncooperative equilibrium was proved; the role of cash flow and the need for credit was examined and the relationship between the noncooperative equilibria and the competitive equilibria was illustrated.

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

Subject Categories : Economics and Cost Analysis
      Operations Research

Distribution Statement : APPROVED FOR PUBLIC RELEASE