scholarly journals A survey of strategic market games

2012 ◽  
Vol 57 (194) ◽  
pp. 63-106 ◽  
Author(s):  
Dmitry Levando
Keyword(s):  
General Equilibrium ◽  
Market Game ◽  
Strategic Market Games ◽  
Demand For Money ◽  
Market Games ◽  
Macroeconomic Analysis ◽  
Strategic Market Game ◽  
Strategic Market ◽  
Reallocation Of Resources

The Strategic Market Game (SMG) is the general equilibrium mechanism of strategic reallocation of resources. It was suggested by Shapley and Shubik in a series of papers in the 70s and it is one of the fundamentals of contemporary monetary macroeconomics with endogenous demand for money. This survey highlights features of the SMG and some of the most important current applications of SMGs, especially for monetary macroeconomic analysis.

Building Theories of Economic Process

2016 ◽  
Author(s):  
Martin Shubik ◽  
Eric Smith
Keyword(s):  
General Equilibrium ◽  
Stationary State ◽  
Equilibrium Analysis ◽  
Market Game ◽  
General Equilibrium Analysis ◽  
Time Path ◽  
Building Models ◽  
Strategic Market Game ◽  
Strategic Market ◽  
And Behavior

In the previous chapters we have provided proofs of principle for representing institutions as the carriers of process , using strategic market game models highly related in form to those of general equilibrium, but with extra constraints imposed by the institutions sufficient to carry process. Nevertheless, except in Chapter 6 we have avoided explicit treatment of dynamics. Structure may limit, but does not fully specify enough to identify equations without further consideration of intent and behavior. In this chapter we turn explicitly to the problem of constraining dynamics. We begin by considering in varying degrees of brevity the modeling of a few special structures, chosen to meet the criteria that they supply a time path out of equilibrium to a stationary state as well as the proof of existence of a stationary state or growth path. In economics the unifying power of general equilibrium analysis comes from the fact that it is not a model, but rather a collection of principles for building models. This extends to our strategic models in this work.

scholarly journals A strategic market game with secured lending

1997 ◽  
Vol 28 (2) ◽  
pp. 207-247 ◽  
Author(s):  
Ioannis Karatzas ◽  
Martin Shubik ◽  
William D. Sudderth
Keyword(s):  
Market Game ◽  
Strategic Market Game ◽  
Strategic Market

A STRATEGIC MARKET GAME OF CARRY TRADES AND EQUILIBRIUM PROFITS*

2011 ◽  
Vol 79 (3) ◽  
pp. 528-541 ◽  
Author(s):  
KONSTANTINOS G. PAPADOPOULOS ◽  
LEONIDAS C. KOUTSOUGERAS
Keyword(s):  
Market Game ◽  
Strategic Market Game ◽  
Strategic Market

scholarly journals A strategic market game with seigniorage costs of Fiat money

2002 ◽  
Vol 19 (1) ◽  
pp. 187-201 ◽  
Author(s):  
Martin Shubik ◽  
Dimitrios P. Tsomocos
Keyword(s):  
Market Game ◽  
Fiat Money ◽  
Strategic Market Game ◽  
Strategic Market
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