Hierarchically Structured Economies

Name: Hierarchically Structured Economies
Brand: Springer
SKU: 9780792343981
Price: 550.27 RON
Availability: InStock

Models with Bilateral Exchange Institutions

Autor: Willy Spanjers

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Legare: Copertă tare

Editura: Springer

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In six chapters this book introduces a micro-economic model where trade takes place through a stable...

Informații despre carte

Autor

Willy Spanjers

Limbă

engleză

Legare

Carte - Copertă tare

Publicat

1997

Pagini

182

EAN

9780792343981

ISBN

0792343980

Enbook ID

01395308

Editura

Springer

Greutate

990

Dimensiuni

155 x 235 x 16

Descriere completă

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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Hierarchically Structured Economies

Models with Bilateral Exchange Institutions

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