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Trade with assignats or landbank money: equilibria in a finite-person strategic market game

Authors :
Jayawardene, A.K.
Shubik, M.
Source :
The Journal of Mathematical Economics. March, 1997, Vol. 27 Issue 2, p143, 20 p.
Publication Year :
1997

Abstract

A simplified economic model has one perishable commodity and money based on land ownership. A finite number of consumers bid at discrete periods for a fixed quantity of the commodity. After an initial distribution of wealth, the commodity is distributed in proportion to the bids. Game theory is used to demonstrate the redistribution of the remaining wealth.

Details

ISSN :
03044068
Volume :
27
Issue :
2
Database :
Gale General OneFile
Journal :
The Journal of Mathematical Economics
Publication Type :
Academic Journal
Accession number :
edsgcl.19390825