A SURVEY OF STRATEGIC MARKET GAMES

Dmitry Levando

Economic Annals, 2012, vol. 57, issue 194, 63-106

Abstract: The Strategic Market Game (SMG) is the general equilibrium mecha-nism of strategic reallocation of resources. It was suggested by Shapley and Shubik in a series of papers in the 70s and it is one of the fundamentals of contemporary monetary macroeconomics with endogenous demand for money. This survey highlights features of the SMG and some of the most important current applications of SMGs, especially for monetary macroeconomic analysis.

Keywords: general equilibrium; strategic market game; macroeconomics; monetary economics (search for similar items in EconPapers)
JEL-codes: C7 D4 D5 (search for similar items in EconPapers)
Date: 2012
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