Interaction and Markets

G.R.E.Q.A.M. from Universite Aix-Marseille III

Abstract: The state in which economic agents find themselves depends on the states of the other individuals in the economy. This dependance may be direct or indirect and involves the network through which agents interact. This paperdescribes models which lie between two polar extremes. On the one hand th ere is the Walrasian model in which individuals react independently to central price signals and are only linked to each other through those signals. On the other hand there is the full blown game theoretic approach in which all individuals interact with each other and are aware of this.

Keywords: MARKET; COMMUNICATION (search for similar items in EconPapers)
JEL-codes: C0 D0 D5 (search for similar items in EconPapers)
Pages: 69 pages
Date: 1997
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Citations: View citations in EconPapers (16)

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Chapter: Interaction and markets (1999)
Working Paper: Interaction and Markets (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:aixmeq:97a02

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