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The Edgeworth, Cournot and Walrasian Cores of an Economy

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Abstract

Three variations of the core of a market game representing an exchange economy are considered and compared. The possibility for utilizing the Walrasian core to reflect certain monetary phenomena is noted.

Suggested Citation

  • Martin Shubik, 2003. "The Edgeworth, Cournot and Walrasian Cores of an Economy," Cowles Foundation Discussion Papers 1439, Cowles Foundation for Research in Economics, Yale University.
  • Handle: RePEc:cwl:cwldpp:1439
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    File URL: http://cowles.yale.edu/sites/default/files/files/pub/d14/d1439.pdf
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    Cited by:

    1. Chen-Zhong Qin & Lloyd S. Shapley & Martin Shubik, 2009. "Marshallian Money, Welfare, and Side-Payments," Cowles Foundation Discussion Papers 1729, Cowles Foundation for Research in Economics, Yale University.

    More about this item

    Keywords

    Market games; Strategic market game; Exchange economy; Core; Characteristic function;

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium

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