Three models of a monetary economy are considered, in order to show the effects of a gold demonetization: the first with a gold money, the second with demonetized gold but no central bank, and the third with demonetized gold, but with a central bank. The distinctions between ownership and...

Using simple but rigorously defined mathematical models, Thomas Quint and Martin Shubik explore monetary control in a simple exchange economy. Examining how money enters, circulates, and exits an economy, they consider the nature of trading systems and the role of government authority in the...

Consider a simple game with n players. Let ψ<Subscript>i</Subscript> be the Shapley–Shubik power index for player i. Then 1-ψ<Subscript>i</Subscript> measures his powerlessness. We break down this powerlessness into two components – a `quixote index' Q <Subscript>i</Subscript> (which measures how much of a `quixote' i is), and a `follower...</subscript></subscript></subscript>