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Is personal currency issued by participants sufficient to operate an economy efficiently, with no outside or government money? Sahi and Yao (in J Math Econ, 1989) and Sorin (in J Econ Theory, 1996) constructed a strategic market game to prove that this is possible. We conduct an experimental...
Persistent link: https://www.econbiz.de/10013131195
Is personal currency issued by participants sufficient to operate an economy efficiently, with no outside or government money? Sahi and Yao (1989) and Sorin (1996) constructed a strategic market game to prove that this is possible. We conduct an experimental game in which each agent issues her...
Persistent link: https://www.econbiz.de/10012759896
A brief survey of the development of the study of risk and probability is given together with some basic observations on their application to insurance. This is followed with observations on the lack of appreciation of probability studies and an elementary feeling for probability by the public...
Persistent link: https://www.econbiz.de/10015389073
Frontmatter -- CONTENTS -- Permissions -- Foreword -- Contributor -- An Appreciation -- Contributor -- 1. Equilibrium Points in n-Person Games. PNAS 36 (1950) 48-49. -- 2. The Bargaining Problem. Econometrica 18 (1950) 155-162. -- 3. Non-Cooperative Games. Annals of Mathematics 54 (1951)...
Persistent link: https://www.econbiz.de/10014479613