Public Choice

, Volume 18, Issue 1, pp 25–40 | Cite as

Artificial markets and the theory of games

  • W. David Montgomery


Public Finance Artificial Market 
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  1. 1.
    C. Plott and R. Meyer, “Characterization of Public Goods, Externalities, and Exclusion,” (unpublished).Google Scholar
  2. 2.
    K. J. Arrow, “The Organization of Economic Activity: Issues Pertinent to the Choice of Market Versus Nonmarket Allocation,” in U.S. Congress Joint Economic Committee,The Analysis and Evaluation of Public Expenditures: The PPB System, Vol. I, U.S. Government Printing Office, Washington, 1969.Google Scholar
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    Lloyd Shapley and Martin Shubik, “Concepts and Theories of Pure Competition,” in M. Shubik, ed.,Essays in Mathematical Economics: In Honor of Oskar Morgenstern, Princeton, 1967.Google Scholar
  6. 6.
    Proved in W.D. Montgomery, “Markets in Licenses and Efficient Pollution Control Programs,”Journal of Economic Theory, 5, 1972.Google Scholar
  7. 7.
    Proved in Lloyd Shapley and Martin Shubik, “On Market Games,”Journal of Economic Theory, 1 (1969), 9–25.Google Scholar
  8. 8.
    Herbert Scarf, “On the Core of an N-Person Game,”Econometrica, 35 (2967), 50–69.Google Scholar
  9. 9.
    Shapley and Shubik,op. cit. “.Google Scholar
  10. 10.
    Proved in Montgomery,op. cit. Google Scholar

Copyright information

© Center for Study of Public Choice Virginia Polytechnic Institute and State University 1974

Authors and Affiliations

  • W. David Montgomery
    • 1
  1. 1.California In stitute of TechnologyUSA

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