Hierarchically Structured Economies Models with Bilateral Exchange Institutions

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 ada...

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Bibliographic Details
Main Author: Spanjers, Willy
Format: eBook
Language:English
Published: New York, NY Springer US 1997, 1997
Edition:1st ed. 1997
Series:Theory and Decision Library C, Game Theory, Social Choice, Decision Theory, and Optimization
Subjects:
Online Access:
Collection: Springer Book Archives -2004 - Collection details see MPG.ReNa
Table of Contents:
  • 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
  • A.1 Terminology on Graphs
  • A.2 Optimization
  • B Equilibrium Concepts
  • B.1 Subgame Perfect Equilibrium
  • B.2 Equilibrium in Very Nice Plays
  • B.3 Approximate Equilibrium in Very Nice Plays
  • References
  • Index of Authors
  • Index of Subjects