Publication Date: April 2002
We derive the existence of a Walras equilibrium directly from Nash’s theorem on noncooperative games. No price player is involved, nor are generalized games. Instead we use a variant of the Shapley-Shubik trading-post game.
Nash equilibrium, Walras equilibrium, Shapley-Shubik trading-posts game, Money
JEL Classification Codes: C72, D40, D41
See CFP: 1065