Surplus-Sharing Local Games in Dynamic Exchange Processes
نویسندگان
چکیده
منابع مشابه
Surplus-sharing Local Games in Dynamic Exchange Processes
A well-known property of so-called ‘‘MDP processes’’ is monotonicity in terms of the utilities of the agents, due to the sharing among the latter of a ‘‘surplus’’ of numeraire generated at each point of their trajectories. In this paper, we focus our attention on the somewhat neglected question of how this sharing takes place, and we propose to use game–theoretic concepts and methods for answer...
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ژورنال
عنوان ژورنال: The Review of Economic Studies
سال: 1979
ISSN: 0034-6527
DOI: 10.2307/2297053