A Note on Enough Money in a Strategic Market Game with Complete or Fewer Markets
This paper discusses the notion of “enough money” in strategic market games. In an economy with one money, m-1 markets and no credit, in order to be able to achieve eﬀicient trade there must be “enough money” held by all traders. In essence “enough money” means that the noncooperative equilibrium solutions to a strategic market game is interior, in other words it is not considered by lack of liquidity. For simplicity two speciﬁc market mechanisms are described to illustrate the relationship between market structure and liquidity.
Shubik, Martin, "A Note on Enough Money in a Strategic Market Game with Complete or Fewer Markets" (1984). Cowles Foundation Discussion Papers. 970.