Hierarchically structured economies: models with bilateral exchange institutions
Auteur :
Spanjers, Willy
Éditeur :
Springer-Verlag New York Inc.
ISBN :
9781441947710
Date de publication :
6 déc. 2010
Dimensions :
27,9 x 21,0 cm
Langue :
Anglais
Pays d'origine :
USA
In six chapters this book introduces a micro-economic model where trade takes place through a stable structure of bilateral exchange institutions.The main problem in such models is that, for well-known equilibrium concepts, equilibrium may fail to exist in the corresponding game.