In this paper we examine the structure of the core of a trading economy with three competitive equilibria as the number of traders (N) is varied. We also examine the sensitivity of the multiplicity of equilibria and of the core to variations in individual initial endowments. Computational...

We review an emerging body of work by physicists addressing questions of economic organization and function. We suggest that, beyond simply employing models familiar from physics to economic observables, remarkable regularities in economic data may suggest parts of social order that can usefully...

This paper is designed to combine the game theoretic investigation of the static or equilibrium properties of large strategic market games together with the investigation of some very simple dynamics, which nevertheless are sufficient to show differences between two related games, one in which...

Since 1973 I have used several three person games in coalitional form for both teaching and experimental purposes. They have been run in primarily a normative mode. The individuals have been asked to act as judges called upon to recommend a division of assets among three players. The basic use...