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Articles 1 - 20 of 20
Full-Text Articles in Social and Behavioral Sciences
A Theory Of Money And Financial Institutions. Part Xiii. Trade With Spot Markets, Fiat Money And Internal Banking, Martin Shubik
A Theory Of Money And Financial Institutions. Part Xiii. Trade With Spot Markets, Fiat Money And Internal Banking, Martin Shubik
Cowles Foundation Discussion Papers
No abstract provided.
The General Equilibrium Model Is The Wrong Model And A Noncooperative Strategic Process Model Is A Satisfactory Model For The Reconciliation Of Micro And Macroeconomic Theory, Martin Shubik
Cowles Foundation Discussion Papers
No abstract provided.
A Theory Of Money And Financial Institutions. Part Xii. A Dynamic Economy With Fiat Money Without Banking And With And Without Production Goods, Martin Shubik
Cowles Foundation Discussion Papers
No abstract provided.
A Theory Of Money And Financial Institutions. Part Xi. Trade With Fiat Money But No Individual Trust. A Preliminary Stage Towards Banking, Martin Shubik
Cowles Foundation Discussion Papers
No abstract provided.
Regulation Of Natural Monopolies And The Fair Rate Of Return, Hayne E. Leland
Regulation Of Natural Monopolies And The Fair Rate Of Return, Hayne E. Leland
Cowles Foundation Discussion Papers
No abstract provided.
Production Theory And The Stock Market, Hayne E. Leland
Production Theory And The Stock Market, Hayne E. Leland
Cowles Foundation Discussion Papers
Traditional economic models separate firms’ production decisions from equilibrium in stock markets. In this paper, we develop an integrated model of production in the presence of capital asset market equilibrium. Our theory indicates that, in a stochastic environment, production and financial variables are inextricably interrelated. Following the financial equilibrium models of Sharpe [13], Lintner [10], and Mossin [11], we assume that profits and therefore portfolio returns are random. But stockholders can alter their distributions of returns by altering firms’ production decisions as well as by altering their portfolios. The key to the analysis is a “unanimity theorem,” which shows that …
Nepal Studies Association Newsletter, Issue 4, Nepal Studies Association
Nepal Studies Association Newsletter, Issue 4, Nepal Studies Association
Nepal Studies Association Newsletter
No abstract provided.
Voting, Preference Orderings And Cooperative Games, Martin Shubik
Voting, Preference Orderings And Cooperative Games, Martin Shubik
Cowles Foundation Discussion Papers
No abstract provided.
The General Equilibrium Model With Joint Ownership Of The Corporation (Voting Stock And The Core), Martin Shubik
The General Equilibrium Model With Joint Ownership Of The Corporation (Voting Stock And The Core), Martin Shubik
Cowles Foundation Discussion Papers
No abstract provided.
Acyclic Choice, Donald J. Brown
Acyclic Choice, Donald J. Brown
Cowles Foundation Discussion Papers
No abstract provided.
Some Problems Of Centralized Economy, N. N. Noiseev, A. G. Schmidt
Some Problems Of Centralized Economy, N. N. Noiseev, A. G. Schmidt
Cowles Foundation Discussion Papers
No abstract provided.
Incentives And Risk-Sharing In Sharecropping, Joseph E. Stiglitz
Incentives And Risk-Sharing In Sharecropping, Joseph E. Stiglitz
Cowles Foundation Discussion Papers
No abstract provided.
Alternative Theories Of Wage Determination And Unemployment In L.D.C.’S: Ii. The Efficiency Wage Model, Joseph E. Stiglitz
Alternative Theories Of Wage Determination And Unemployment In L.D.C.’S: Ii. The Efficiency Wage Model, Joseph E. Stiglitz
Cowles Foundation Discussion Papers
No abstract provided.
Fiat Money In An Economy With One Nondurable Good And No Credit (A Noncooperative Sequential Game), Martin Shubik, Ward Whitt
Fiat Money In An Economy With One Nondurable Good And No Credit (A Noncooperative Sequential Game), Martin Shubik, Ward Whitt
Cowles Foundation Discussion Papers
No abstract provided.
The Theory Of ‘Screening’, Education, And The Distribution Of Income, Joseph E. Stiglitz
The Theory Of ‘Screening’, Education, And The Distribution Of Income, Joseph E. Stiglitz
Cowles Foundation Discussion Papers
No abstract provided.
Some Observations On ‘Optimal’ Economic Growth And Exhaustible Resources, Tjalling C. Koopmans
Some Observations On ‘Optimal’ Economic Growth And Exhaustible Resources, Tjalling C. Koopmans
Cowles Foundation Discussion Papers
No abstract provided.
Nepal Studies Association Newsletter, Issue 3, Nepal Studies Association
Nepal Studies Association Newsletter, Issue 3, Nepal Studies Association
Nepal Studies Association Newsletter
No abstract provided.
Game Theory And Political Science, Martin Shubik
Game Theory And Political Science, Martin Shubik
Cowles Foundation Discussion Papers
There are several topics in political science to which the application of game theory is prima facie appealing. They are voting, the study of power, diplomacy, negotiation and bargaining behavior, coalition formation among political groups and logrolling. This brief survey is by no means intended to be comprehensive but is intended to serve as a guide to some of the more immediate applications of game theory to political science.
Money And The Decentralization Of Exchange, Joseph M. Ostroy, Ross M. Starr
Money And The Decentralization Of Exchange, Joseph M. Ostroy, Ross M. Starr
Cowles Foundation Discussion Papers
A pairwise trading process is formulated subject to conditions of nonnegativity of traders’ holdings and quid pro quo. It is shown that that: (i) There is a centralized procedure that achieves the equilibrium allocation for an arbitrary economy. (ii) It is not in general possible to find a decentralized procedure that achieves the equilibrium allocation for an arbitrary economy. (iii) In a monetary economy there is a decentralized procedure that achieves the equilibrium allocation. The usefulness of money is that it allows decentralization of the trading process.
A Note On The Shape Of The Pareto Optimal Surface, Gordon H. Bradley, Martin Shubik
A Note On The Shape Of The Pareto Optimal Surface, Gordon H. Bradley, Martin Shubik
Cowles Foundation Discussion Papers
No abstract provided.