Does commodity money eliminate the indeterminacy of equilibrium?

Article Abstract:

The use of commodity money instead of fiat money does not overturn the equilibrium indeterminacy results in the steady-state random-matching model. The commodity-money standard or other commodity-money-like system may also possess the arbitrariness that is often reserved for describing the fiat money system.

---

Approximate cores of games and economies with clubs

Article Abstract:

For the purpose of research, a new model of an economy with club and analogues of the nonemptiness results for games is developed. This model allows utilities to be affected directly by the composition and size of the economy containing the club.

Usage, Games, Approximation theory, Approximation

---

Similar abstracts:

• Abstracts: People's opium? religion and economic attitudes. The injustice of inequality
• Abstracts: Steady state price distributions in a noisy search equilibrium. Indeterminacy and directed search
• Abstracts: Testing for indeterminacy: an application to U.S. monetary policy. Computing sunspot equilibria in linear rational expectations models
• Abstracts: Impact of ownership and competition on the productivity of Chinese enterprises. A study of the R&D efficiency and productivity of Chinese firms
• Abstracts: Probabilistic representation of complexity. Maxmin expected utility over savage acts with a set of priors. Auctions with uncertain numbers of bidders

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.