Some Dynamics of a Strategic Market Game with a Large Number of Agents
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.
Miller, John M. and Shubik, Martin, "Some Dynamics of a Strategic Market Game with a Large Number of Agents" (1992). Cowles Foundation Discussion Papers. 1280.