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Articles 1 - 18 of 18
Full-Text Articles in Social and Behavioral Sciences
A Theory Of Money And Financial Institutions. Part Iii. The Missing Degree Of Freedom: Commodity Money And Oligopoly In A General Equilibrium Model, Martin Shubik
Cowles Foundation Discussion Papers
It is suggested that an extra degree of freedom is needed to construct a symmetric noncooperative price game in a market with n monopolists trading in n goods. This calls for the introduction of an n+1 good which can be interpreted as a commodity money. Where there are n monopolists using a commodity money in common a symmetric price or quantity noncooperative game can be constructed. The quantity game is examined. Necessary conditions are shown for the replicated game to have its noncooperative equilibria approach the competitive equilibria of the replicated market. It is demonstrated that unless there is “enough” …
Alternative Management Of Common Property Resources Under Free Access And Private Ownership, Martin L. Weitzman
Alternative Management Of Common Property Resources Under Free Access And Private Ownership, Martin L. Weitzman
Cowles Foundation Discussion Papers
No abstract provided.
A Theory Of Money And Financial Institutions: Part Ii. On The Paradox Of The Efficient Price System In A Completely Centralized Economy And In A Capitalist Individual Ownership Economy, Martin Shubik
Cowles Foundation Discussion Papers
No abstract provided.
A New Measure Of Income From Wealth, Donald A. Nichols
A New Measure Of Income From Wealth, Donald A. Nichols
Cowles Foundation Discussion Papers
No abstract provided.
A Theory Of Money And Financial Institutions. Part I. The General Approach Adopted, Martin Shubik
A Theory Of Money And Financial Institutions. Part I. The General Approach Adopted, Martin Shubik
Cowles Foundation Discussion Papers
No abstract provided.
Is Growth Obsolete?, William D. Nordhaus, James Tobin
Is Growth Obsolete?, William D. Nordhaus, James Tobin
Cowles Foundation Discussion Papers
No abstract provided.
Summary Comment, James Tobin
Summary Comment, James Tobin
Cowles Foundation Discussion Papers
No abstract provided.
On The Scope Of Gaming, Martin Shubik
On The Scope Of Gaming, Martin Shubik
Cowles Foundation Discussion Papers
Gaming and simulation mean different things to different people. Currently there exist separate schools of individuals working on interrelated but basically different areas. Each have their own special goals and terminology. Yet there is a sufficient overlap among them that it is important to clarify the common and different interests and terminology. The general topic of gaming is ripe for an examination to see to what extent there exists a basic methodology and theory of gaming. This paper addresses itself, in part to this problem. Different types of games and different purposes are discussed. It is stressed that there is …
Competitive Equilibrium And Game Theory Solutions: Part I. The Core And Value, Lloyd S. Shapley, Martin Shubik
Competitive Equilibrium And Game Theory Solutions: Part I. The Core And Value, Lloyd S. Shapley, Martin Shubik
Cowles Foundation Discussion Papers
No abstract provided.
Duality Theory Of Convex Programming For Infinite Horizon Economic Models, Martin L. Weitzman
Duality Theory Of Convex Programming For Infinite Horizon Economic Models, Martin L. Weitzman
Cowles Foundation Discussion Papers
The present state of convex programming theory for infinite horizon free endpoint economic models is not entirely satisfactory. Roughly speaking, classical duality principles can be shown to apply tof inite subsections of an optimal trajectory and this avoids classical inefficiencies of the finite horizon variety. But it has never been completely clear how to avoid the kind of non-optimality which results from piling up too much “left over” capital in the limit. While certain rule of thumb “transversality conditions” have been proposed by analogy with finite horizon models, they have not in general been put on a rigorous footing and …
On The Definition And Computation Of A Capital Stock Invariant Under Optimization, Terje Hansen, Tjalling C. Koopmans
On The Definition And Computation Of A Capital Stock Invariant Under Optimization, Terje Hansen, Tjalling C. Koopmans
Cowles Foundation Discussion Papers
No abstract provided.
Systems Of Indirect Management In A Planned Economy: Effectiveness Models And Their Applications In Poland, Witold Trzeciakowski
Systems Of Indirect Management In A Planned Economy: Effectiveness Models And Their Applications In Poland, Witold Trzeciakowski
Cowles Foundation Discussion Papers
No abstract provided.
The Price Of Money In A Pure Exchange Monetary Economy, Ross M. Starr
The Price Of Money In A Pure Exchange Monetary Economy, Ross M. Starr
Cowles Foundation Discussion Papers
No abstract provided.
Wealth, Liquidity, And Consumption, Walter Dolde, James Tobin
Wealth, Liquidity, And Consumption, Walter Dolde, James Tobin
Cowles Foundation Discussion Papers
No abstract provided.
Friedman's Theoretical Framework, James Tobin
Friedman's Theoretical Framework, James Tobin
Cowles Foundation Discussion Papers
No abstract provided.
Nonstandard Exchange Economies, Donald J. Brown, Abraham Robinson
Nonstandard Exchange Economies, Donald J. Brown, Abraham Robinson
Cowles Foundation Discussion Papers
No abstract provided.
An Estimate Of Racial Discrimination In Rental Housing, Thomas King, Peter M. Mieszkowski
An Estimate Of Racial Discrimination In Rental Housing, Thomas King, Peter M. Mieszkowski
Cowles Foundation Discussion Papers
No abstract provided.
On Transitions Between Steady States, Joseph E. Stiglitz
On Transitions Between Steady States, Joseph E. Stiglitz
Cowles Foundation Discussion Papers
No abstract provided.