Strategic market games: an introduction
G Giraud - Journal of mathematical economics, 2003 - Elsevier
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Emergence of price-taking behavior
SD Flåm - Economic Theory, 2020 - Springer
Price-taking behavior is the bedrock of much market theory. How might such behavior
emerge? Addressing that old but still intriguing question, this paper uses a money …
emerge? Addressing that old but still intriguing question, this paper uses a money …
Competitive behavior in market games: Evidence and theory
We explore whether competitive outcomes arise in an experimental implementation of a
market game, introduced by Shubik (1973)[21]. Market games obtain Pareto inferior (strict) …
market game, introduced by Shubik (1973)[21]. Market games obtain Pareto inferior (strict) …
A survey of strategic market games
D Levando - Economic Annals, 2012 - ea.ekof.bg.ac.rs
The Strategic Market Game (SMG) is the general equilibrium mecha-nism of strategic
reallocation of resources. It was suggested by Shapley and Shubik in a series of papers in …
reallocation of resources. It was suggested by Shapley and Shubik in a series of papers in …
Decentralized Pricing and the equivalence between Nash and Walrasian equilibrium
We introduce, in the standard exchange economy model, market games in which agents use
private prices as strategies. We give conditions on the game form that ensure that the only …
private prices as strategies. We give conditions on the game form that ensure that the only …
Direct exchange in linear economies
SD Flåm, K Gramstad - International Game Theory Review, 2012 - World Scientific
Considered here is direct exchange of production allowances or input factors. Motivated by
practical modeling and compution, we suppose every owner or user of such items has a …
practical modeling and compution, we suppose every owner or user of such items has a …
Decentralized pure exchange processes on networks
We define a class of pure exchange Edgeworth trading processes that under minimal
assumptions converge to a stable set in the space of allocations, and characterise the …
assumptions converge to a stable set in the space of allocations, and characterise the …
[PDF][PDF] Decentralized pricing and strategic stability of Walrasian general equilibrium
We analyze a completely decentralized Walrasian general equilibrium economy with trade
occurring out of equilibrium. Prices are fully controlled by individual economic agents and …
occurring out of equilibrium. Prices are fully controlled by individual economic agents and …
Learning competitive equilibrium in laboratory exchange economies
S Crockett - Economic Theory, 2008 - Springer
A laboratory market for two goods is instituted to examine the hypothesis that individuals will
eventually coordinate on the induced competitive equilibrium. The mechanism for exchange …
eventually coordinate on the induced competitive equilibrium. The mechanism for exchange …
A battle of informed traders and the market game foundations for rational expectations equilibrium
J Peck - Games and Economic Behavior, 2014 - Elsevier
Potential manipulation of prices and convergence to rational expectations equilibrium is
studied in a game without noise traders. Informed players with initially long and short …
studied in a game without noise traders. Informed players with initially long and short …