Title

The Numeraire, Money and the Missing Degree of Freedom

Authors

Martin Shubik

Document Type

Discussion Paper

Publication Date

5-1-1985

CFDP Number

750

CFDP Pages

13

Abstract

The prime purpose of this article is to illustrate some basic problems in the modelling of strategic market games with a single means of exchange or with complete markets. A simple example involving three types of traders trading in three commodities serves to make the points clear.

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