An Example of a Trading Economy with Three Competitive Equilibria,

Abstract

This brief note is presented as a convenience for those who wish to see what an actual numerical example of a smooth trading economy with multiple equilibria looks like in terms of an Edgeworth box diagram. The authors present a two trader two commodity example in terms of a fanciful exchange between two kinds of money.

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Document Details

Document Type
Technical Report
Publication Date
Jan 01, 1977
Accession Number
ADA040878

Entities

People

  • Lloyd Shapley
  • Martin Shubik

Organizations

  • RAND Corporation

Tags

Communities of Interest

  • C4I
  • Counter IED

DTIC Thesaurus Topics

  • Boundaries
  • Calculus
  • Commerce
  • Commodities
  • Competition
  • Contracts
  • Corporations
  • Equations
  • Hypotheses
  • Instability
  • Logistics
  • Mathematics
  • Military Research
  • Textbooks

Fields of Study

  • Economics

Readers

  • Game Theory.
  • Theoretical Analysis.