VALUES OF LARGE GAMES-VII: A GENERAL EXCHANGE ECONOMY WITH MONEY,
RAND CORP SANTA MONICA CALIF
Pagination or Media Count:
This memorandum concerns an application of the mathematical theory of games to a central problem in theoretical economics. It is one of a series dealing with the techniques of evaluating games with many players. It is shown that the Shapley value solution of a certain general class of competitive markets, regarded as multiperson games, converges to the classical competitive equilibrium solution when the set of traders in the market is expanded homogeneously.