A closed economy with exogenous uncertainty, different levels of information, money, futures and spot markets

P. Dubey; M. Shubik

doi:10.1007/BF01764429

A closed economy with exogenous uncertainty, different levels of information, money, futures and spot markets

P. Dubey
, M. Shubik

Economics

Yale University

Research output: Contribution to journal › Article › peer-review

3 Scopus citations

Abstract

A Money Game is a model of trade (and production) in which there is a distinguished commodity (real or fiat) which is used as a money; and in which complete rules for the formation of price, as a result of individual strategies, are given. The explicit definition of the games does not necessarily imply the type of solution concept to be used. In this paper we limit our enquiry to the noncooperative equilibrium and its relationship with the competitive equilibrium.

Original language	English
Pages (from-to)	231-248
Number of pages	18
Journal	International Journal of Game Theory
Volume	6
Issue number	4
DOIs	https://doi.org/10.1007/BF01764429
State	Published - Dec 1977

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abstract = "A Money Game is a model of trade (and production) in which there is a distinguished commodity (real or fiat) which is used as a money; and in which complete rules for the formation of price, as a result of individual strategies, are given. The explicit definition of the games does not necessarily imply the type of solution concept to be used. In this paper we limit our enquiry to the noncooperative equilibrium and its relationship with the competitive equilibrium.",

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AB - A Money Game is a model of trade (and production) in which there is a distinguished commodity (real or fiat) which is used as a money; and in which complete rules for the formation of price, as a result of individual strategies, are given. The explicit definition of the games does not necessarily imply the type of solution concept to be used. In this paper we limit our enquiry to the noncooperative equilibrium and its relationship with the competitive equilibrium.

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A closed economy with exogenous uncertainty, different levels of information, money, futures and spot markets

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