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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. In this work an adaptation of such models - hierarchically structured economies - is introduced. The possibilities and limitations of the use of the concept of subgame perfect equilibrium within the context of this kind of models is discussed. Furthermore, it is shown that some well-known market forms, viz. Walrasian and monopolistic markets, occur as special cases. A modification of the concept of subgame perfect equilibrium is introduced to formulate and prove a general theorem on the existence of equilibrium in hierarchically structured economies.
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Contenuti
1. Introduction. 2. Hierarchically Structured Exchange Economies. 3. Mono Pricing in Hierarchical Trees. 4. Bid and Ask Prices in Hierarchical Trees. 5. Arbitrage. 6. Hierarchies. A. Mathematical Appendix. B. Equilibrium Concepts. References. Index of Authors. Index of Subjects.
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Hierarchically Structured Economies: Models with Bilateral Exchange Institutions (Theory and Decision Library C)
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Hierarchically Structured Economies: Models with Bilateral Exchange Institutions (Theory and Decision Library C (15))
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Gebunden. Condizione: New. Dieser Artikel ist ein Print on Demand Artikel und wird nach Ihrer Bestellung fuer Sie gedruckt. 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 . Codice articolo 5967998
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Hierarchically Structured Economies
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Springer US, Springer New York Feb 1997, 1997
ISBN 10: 0792343980
ISBN 13: 9780792343981
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Buch. Condizione: Neu. This item is printed on demand - Print on Demand Titel. Neuware -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. In this work an adaptation of such models - hierarchically structured economies - is introduced. The possibilities and limitations of the use of the concept of subgame perfect equilibrium within the context of this kind of models is discussed. Furthermore, it is shown that some well-known market forms, viz. Walrasian and monopolistic markets, occur as special cases. A modification of the concept of subgame perfect equilibrium is introduced to formulate and prove a general theorem on the existence of equilibrium in hierarchically structured economies.Springer Verlag GmbH, Tiergartenstr. 17, 69121 Heidelberg 192 pp. Englisch. Codice articolo 9780792343981
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Hierarchically Structured Economies: Models with Bilateral Exchange Institutions (Theory and Decision Library C, 15)
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Buch. Condizione: Neu. Druck auf Anfrage Neuware - Printed after ordering - 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. In this work an adaptation of such models - hierarchically structured economies - is introduced. The possibilities and limitations of the use of the concept of subgame perfect equilibrium within the context of this kind of models is discussed. Furthermore, it is shown that some well-known market forms, viz. Walrasian and monopolistic markets, occur as special cases. A modification of the concept of subgame perfect equilibrium is introduced to formulate and prove a general theorem on the existence of equilibrium in hierarchically structured economies. Codice articolo 9780792343981
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Buch. Condizione: Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -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. In this work an adaptation of such models - hierarchically structured economies - is introduced. The possibilities and limitations of the use of the concept of subgame perfect equilibrium within the context of this kind of models is discussed. Furthermore, it is shown that some well-known market forms, viz. Walrasian and monopolistic markets, occur as special cases. A modification of the concept of subgame perfect equilibrium is introduced to formulate and prove a general theorem on the existence of equilibrium in hierarchically structured economies. 192 pp. Englisch. Codice articolo 9780792343981
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Hierarchically Structured Economies: Models with Bilateral Exchange Institutions (Theory and Decision Library C (15))
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