An adequate description of economic dynamics requires the introduction of a monetary system including default penalties and expectations in a society whose economy utilizes money and credit. This essay notes and discusses several of the factors involved in the use of money and credit in a...

A voting with absenteeism game is defined as a pair (G;r) where G is an n-player (monotonic) simple game and r is an n-vector for which r_{i} is the probability that player i attends a vote. We define a power index for such games, called the absentee index. We axiomatize the absentee index and...

The knowledge constraints and transactions costs imposed by geographical distance, network connections and time conspire to justify local behavior as a good approximation for global rationality. We consider a class of games to illustrate this relationship and raise some questions as to what...