Hierarchically Structured Economies: Models with Bilateral Exchange Institutions (Theory and Decision Library C, Band 15) - Hardcover

Spanjers, Willy

 
9780792343981: Hierarchically Structured Economies: Models with Bilateral Exchange Institutions (Theory and Decision Library C, Band 15)
Hardcover
ISBN 10: 0792343980 ISBN 13: 9780792343981
Verlag: Springer, 1997

Inhaltsangabe

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.

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Verlag
Springer
Erscheinungsdatum
1997
Sprache
Englisch
ISBN 10 
0792343980
ISBN 13 
9780792343981
Einband
Gebundene Ausgabe
Anzahl der Seiten
190
Kontakt zum Hersteller
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Poststr. 9
Darmstadt
64293
Deutschland

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