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,

Descriptive Note:

Corporate Author:

YALE UNIV NEW HAVEN CONN COWLES FOUNDATION FOR RESEARCH IN ECONOMICS

Personal Author(s):

• Shubik,Martin

Report Date:

1974-03-19

Pagination or Media Count:

20.0

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