This article considers an infinitely repeated economy with divisible fiat money. The economy has many marketplaces that agents choose to visit. In each marketplace, agents are randomly matched to trade goods. There exist a variety of stationary equilibria. In some equilibrium, each good is...

Three classes of models on money closely related to game theoretic models are (i) search theoretic models; (ii) repeated games (in a narrow sense); and (iii) trading post games. This note tries to point out the sense of affinity between the theory of microfoundations of money and the theory of...