MARKETS AS COOPERATIVE GAMES

Abstract

Markets are formulated as cooperative n-person games in which the players are divided into two camps, the buyers and the sellers, with some kind of profitable exchange going on between them. The solutions of several examples are discussed and a general notion of 'abstract market game' is defined.

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Document Details

Document Type
Technical Report
Publication Date
Mar 07, 1955
Accession Number
AD0604632

Entities

People

  • Lloyd Shapley

Organizations

  • RAND Corporation

Tags

DTIC Thesaurus Topics

  • Abstracts
  • Chemical Reaction Properties
  • Cooperative Games
  • Universities

Fields of Study

  • Economics

Readers

  • Game Theory.