Title

Some Dynamics of a Strategic Market Game with a Large Number of Agents

Document Type

Discussion Paper

Publication Date

11-1-1992

CFDP Number

1037

CFDP Pages

29

Abstract

This paper is designed to combine the game theoretic investigation of the static or equilibrium properties of large strategic market games together with the investigation of some very simple dynamics, which nevertheless are sufficient to show differences between two related games, one in which both borrowing and trade take place. The role of banking reserves emerges as relevant and sensitive to the transient state dynamics. Several 100,000 player games are simulated and the behavior is constructed with the analytical prediction for the games with a continuum of agents.

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