کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
7353120 | 1477051 | 2018 | 14 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Graphical exchange mechanisms
ترجمه فارسی عنوان
سازوکارهای گرافیکی
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
چکیده انگلیسی
Consider an exchange mechanism which accepts “diversified” offers of various commodities and then redistributes them. Under some natural conditions of “fairness” and “convenience”, such a mechanism admits unique prices, which equalize the value of offers and returns for every individual. Next define the complexity of a mechanism via certain integers Ïij, Ïij and ki that represent the time required to exchange i for j, the difficulty in determining the exchange ratio, and the dimension of the offers. There are finitely many minimally complex mechanisms, in each of which all trade occurs through markets for commodity pairs. Finally consider minimal mechanisms with smallest worst-case complexities Ï=maxâ¡Ïij and Ï=maxâ¡Ïij. For m>3 commodities, there are precisely three such mechanisms, one of which has a distinguished commodity - the money - as the sole medium of exchange. As mââ the money mechanism is the only one with bounded (Ï,Ï).
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Games and Economic Behavior - Volume 108, March 2018, Pages 452-465
Journal: Games and Economic Behavior - Volume 108, March 2018, Pages 452-465
نویسندگان
Pradeep Dubey, Siddhartha Sahi, Martin Shubik,