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A Theory of Money and Financial Institutions. Part XVIII. A Noncooperative Model of a Closed Trading Economy with Many Traders and Two Bankers,
YALE UNIV NEW HAVEN CONN COWLES FOUNDATION FOR RESEARCH IN ECONOMICS
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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.
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