From Nash to Walras via Shapley-Shubik
We derive the existence of a Walras equilibrium directly from Nash's theorem on noncooperative games. No price player is involved, nor are generalized games. Instead we use a variant of the Shapley-Shubik trading-post game.
|Date of creation:||Apr 2002|
|Publication status:||Published in Journal of Mathematical Economics (2003), 39: 391-400|
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|Order Information:|| Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA|
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