Trade Using One Commodity as a Means of Payment

# Trade Using One Commodity as a Means of Payment > OpenAlex Metadata Hub · https://openalex.org/W1983910668 ## Bibliographic - **DOI:** 10.1086/260616 - **Year:** 1977 - **Citations:** 604 - **Open Access:** No (closed) - **License:** — - **Source:** https://doi.org/10.1086/260616 ## Authors - Lloyd S. Shapley - Martín Shubik ## Abstract A general model of noncooperative trading equilibrium is described in which prices depend in a natural way on the buying and selling decisions of the traders, avoiding the classical assumption that individuals must regard prices as fixed. The key to the approach is the use of a single, specified commodity as "cash," which may or may not have intrinsic value. The model, in several variants, is treated as a noncooperative game, in the spirit of Nash and Cournot. The rules of the game, including the price-forming mechanism, are independent of behavioral or equilibrium assumptions, which enter, instead, through the solutions of the game. ## Keywords Commodity, Economics, Microeconomics, Cash, Payment, Nash equilibrium, Cournot competition, Value (mathematics), Mathematical economics, Computer science, Finance ## Concepts - Commodity - Economics - Microeconomics - Cash - Payment - Nash equilibrium - Cournot competition - Value (mathematics) - Mathematical economics - Computer science - Finance - Machine learning --- *Metadata only — full text not imported unless Open Access license permits.*

Bài “Trade Using One Commodity as a Means of Payment” được TradingBase chuyển thành Knowledge Product cho trader — không phải trang đọc abstract OpenAlex. Tóm lược học thuật (đã diễn giải): A general model of noncooperative trading equilibrium is described in which prices depend in a natural way on the buying and selling decisions of the traders, avoiding the classical assumption that individuals must regard prices as fixed. The key to the approach is the use of a single, specified commodity as "cash," which may or may not have intrinsic value. The model, in several variants, is treated as a noncooperative game, in the spirit of Nash and Cournot. The rules of the game, including the price-forming mechanism, are independent of behavioral or equilibrium assumptions, which enter, instead, through the solutions of the game. Phần Trading Insights bên dưới nối nghiên cứu với Forex, vàng, USD, lãi suất và risk regime — để bạn đưa vào journal và playbook. Metadata DOI/OA chỉ là rail tham chiếu; nội dung chính là summary, takeaways và ứng dụng thị trường do Content Factory sinh.