Strategic market games with exchange rates
成果类型：
Article
署名作者：
Sorin, S
署名单位：
Universite Paris Nanterre
刊物名称：
JOURNAL OF ECONOMIC THEORY
ISSN/ISSBN：
0022-0531
DOI：
10.1006/jeth.1996.0062
发表日期：
1996
页码：
431-446
关键词：
摘要：
Strategic market games describe mechanisms of formation of prices and of redistribution of goods. We introduce here a model without commodity money but where the use of fiat money does not imply the possibility of debt, hence the necessity for penalty. This is done through a collection of exchange rates that allows For a coherent price system and a redistribution that clears the market for any initial bids of the agents. (C) 1996 Academic Press, Inc.