Hierarchically Structured Economies: Models with Bilateral Exchange Institutions - Couverture rigide

Spanjers, Willy

Couverture rigide

ISBN 10 : 0792343980 ISBN 13 : 9780792343981

Editeur : Kluwer Academic Publishers, 1997

Synopsis

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.

Détails de l'édition

• Éditeur: Kluwer Academic Publishers
• Date d'édition: 1997
• Langue: anglais
• ISBN 10: 0792343980
• ISBN 13: 9780792343981
• Reliure: Relié
• Nombre de pages: 190
• Coordonnées du fabricant: ProductSafety@springernature.com; ProductSafety@springernature.com; ; Poststr. 9; Darmstadt; 64293; Allemagne