Accession Number : ADA127903


Title :   A Strategic Market Game with Transactions Costs,


Corporate Author : YALE UNIV NEW HAVEN CT COWLES FOUNDATION FOR RESEARCH IN ECONOMICS


Personal Author(s) : Rogawski,J ; Shubik,M


Full Text : http://www.dtic.mil/dtic/tr/fulltext/u2/a127903.pdf


Report Date : 30 Mar 1983


Pagination or Media Count : 37


Abstract : Money is a complex institutional phenomenon with many features depending delicately upon the structure of markets, customs of society and other rules of the game which fully specify how trade may take place. There are three broadly recognized features of money (by no means the only ones: see Shubik, 1983, Chapter 2) which are considered here. They are money: as a numeraire: as a store of wealth; and as a means of payment. Implicit in the above statement is that a money is somehow operationally different from other commodities. Using strategic market games, we attempt to make these properties of a money precise and easy to identify in the mathematical structures being studied. (Author)


Descriptors :   *MARKET RESEARCH , *MONEY , MATHEMATICAL MODELS , ECONOMIC ANALYSIS , MARKETING , STRATEGIC ANALYSIS , COST ANALYSIS , FLUX(RATE) , MODEL THEORY , VARIABLES , FUNCTIONAL ANALYSIS , VALUE , ECONOMETRICS , EXCHANGE , COMMODITIES , PRICE INDEX , INDEXES(RATIOS)


Subject Categories : Administration and Management
      Economics and Cost Analysis
      Theoretical Mathematics


Distribution Statement : APPROVED FOR PUBLIC RELEASE