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Hierarchically Structured Economies: Models with Bilateral Exchange Institutions - Theory and Decision Library C Willy Spanjers 1997 edition
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Hierarchically Structured Economies: Models with Bilateral Exchange Institutions - Theory and Decision Library C
Willy Spanjers
In six chapters this book introduces a micro-economic model where trade takes place through a stable structure of bilateral exchange institutions. The main problem in such models is that, for well-known equilibrium concepts, equilibrium may fail to exist in the corresponding game.
182 pages, biography
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