Money and Context
Money and Context
We explain the main idea of the book—namely, to show how to model money and financial institutions using game theory. This represents a departure from the traditional general equilibrium and monetary theory methods. This is done by presenting a series of dynamic strategic market game models of a simple two-good economy. The models are necessarily overly simplified, encompassing only minimal institutions, omitting sectors such as production. We close with a sketch of the contents of each chapter.
Keywords: game theory, mathematical institutional economics, minimal institutions, money, process model
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