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Hierarchically Structured Economies

- Models with Bilateral Exchange Institutions

About Hierarchically Structured Economies

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.

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  • Language:
  • English
  • ISBN:
  • 9780792343981
  • Binding:
  • Hardback
  • Pages:
  • 182
  • Published:
  • February 27, 1997
  • Edition:
  • 1997
  • Dimensions:
  • 155x235x12 mm.
  • Weight:
  • 990 g.
Delivery: 2-3 weeks
Expected delivery: November 23, 2024

Description of Hierarchically Structured Economies

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.

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