The Theory of Money and Financial Institutions (Volume 3)

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The Theory of Money and Financial Institutions (Volume 3) PDF

Review

"As Martin Shubik has often noted, modern Economics exists in an institutional vacuum. In this fascinating and elegant book, Shubik provides a bridge between the institutionally barren theory of general equilibrium and a richer strategic approach combining a game-theoretic view rich in institutional details. The book is a tour de force in Political Economy and recommended for anyone who is searching for a micro-based theory of macro and monetary phenomena." Andrew Schotter, Professor of Economics and Director of the Center for Experimental Social Science, New York University
"Martin Shubik is co-inventor of the 'market game': the best general equilibrium model of imperfect competition, the obvious link between GE theory and Game Theory, and a useful platform for evaluating the roles of money, credit, and banking. This is the third in an ambitious series of books on a very timely subject. Like the others, this one is marked by Shubik's deep insights derived from market games, combined with his broad understanding of Economic Theory and institutions." Karl Shell, Thorne Professor of Economics, Cornell University

About the Author

Martin Shubik is Seymour Knox Professor of Mathematical Institutional Economics (Emeritus) at Yale University's Cowles Foundation and School of Management.