Enough Commodity Money and the Selection of a Unique Competitive Equilibrium

Martin Shubik

No 804, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: Suppose that we reformulate the exchange economy as a strategic market game. As all purchases are paid for in cash it is possible to attach precise meaning to what is meant by enough money. As the game is a single simultaneous bid and offered at m trading posts and m prices are all simultaneously determined, in essence the trading technology is completely specified.

Keywords: Exchange economy, strategic market game; commodity money (search for similar items in EconPapers)
Pages: 8 pages
Date: 1986-10
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Citations: View citations in EconPapers (2)

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