Title

Enough Commodity Money and the Selection of a Unique Competitive Equilibrium

Authors

Martin Shubik

Document Type

Discussion Paper

Publication Date

10-1-1986

CFDP Number

804

CFDP Pages

8

Abstract

Suppose that we reformulate the exchange economy as a strategic market game. As all purchases are paid for in cash it is possible to attach precise meaning to what is meant by enough money. As the game is a single simultaneous bid and offered at m trading posts and m prices are all simultaneously determined, in essence the trading technology is completely specified.

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