Structure, Clearinghouses and Symmetry
We introduce and justify a taxonomy for the structure of markets and minimal institutions which appear in constructing minimally complex trading structures to perform the functions of price formation, settlement and payments. Each structure is presented as a playable strategic market game and is examined for its efficiency, the number of degrees of freedom and the symmetry properties of the structure.
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Volume (Year): 30 (2007)
Issue (Month): 3 (March)
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- Sorin, Sylvain, 1996.
"Strategic Market Games with Exchange Rates,"
Journal of Economic Theory,
Elsevier, vol. 69(2), pages 431-446, May.
- Sorin, S., 1994. "Strategic Market Games with Exchange Rates," Papers 9411, Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor..
- Martin Shubik, 2000. "The Theory of Money," Working Papers 00-03-021, Santa Fe Institute.
- Dubey, Pradeep & Mas-Colell, Andreau & Shubik, Martin, 1980. "Efficiency properties of strategies market games: An axiomatic approach," Journal of Economic Theory, Elsevier, vol. 22(2), pages 339-362, April.
- Amir, Rabah & Sahi, Siddharta & Shubik, Martin & Yao, Shuntian, 1990. "A strategic market game with complete markets," Journal of Economic Theory, Elsevier, vol. 51(1), pages 126-143, June.Full references (including those not matched with items on IDEAS)
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