A strategic market game with transactions costs (Q1067961): Difference between revisions
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Latest revision as of 09:02, 17 June 2024
scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | A strategic market game with transactions costs |
scientific article |
Statements
A strategic market game with transactions costs (English)
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1986
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Transactions costs in terms of the physical consumption of goods are introduced into a strategic market game model of exchange with complete markets. The existence of noncooperative equilibria is established. The possibility that the activity of markets will depend upon the physical properties of a commodity which might serve as a money are considered. Trade in m commodities with a money calls for m-1 markets as contrasted with m(m-1)/2.
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Transactions costs
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strategic market game
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exchange
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complete markets
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existence of noncooperative equilibria
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