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A Survey Of Strategic Market Games

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  • Dmitry Levando

Abstract

The Strategic Market Game (SMG) is the general equilibrium mecha-nism of strategic reallocation of resources. It was suggested by Shapley and Shubik in a series of papers in the 70s and it is one of the fundamentals of contemporary monetary macroeconomics with endogenous demand for money. This survey highlights features of the SMG and some of the most important current applications of SMGs, especially for monetary macroeconomic analysis.

Suggested Citation

  • Dmitry Levando, 2012. "A Survey Of Strategic Market Games," Economic Annals, Faculty of Economics, University of Belgrade, vol. 57(194), pages 63-106, July - Se.
  • Handle: RePEc:beo:journl:v:57:y:2012:i:194:p:63-106
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    File URL: http://ea.ekof.bg.ac.rs/pdf/194/230.pdf
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    Cited by:

    1. Dmitry Levando & Maxim Sakharov, 2018. "Natural Instability of Equilibrium Prices," Working Papers 2018:01, Department of Economics, University of Venice "Ca' Foscari".

    More about this item

    Keywords

    general equilibrium; strategic market game; macroeconomics; monetary economics;

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium

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