demonstrated that money is a measure of generalized power in exchange and a certification of generalized power in subsequent …Modern exchange theories model a large market, but do not explain single exchanges. This paper considers the phenomenon … of single exchange and formulates the general exchange problem in the form of a system of two equations, subjective and …

to the question of the nature of money. These contributions have to be understood in the context of his broader approach … ontology. Lawson's elaboration of the nature of money is not the only one compatible with the social positioning theory and an …

We propose a standard search and bargaining model with divisible money, in which only the random matching market opens … tractable equilibrium, called a pay‐all equilibrium , and prove its existence. Each buyer pays all the money holding as a corner … power parameter affects the distribution of the money holdings and possibly induces economic inefficiency. We propose a …

This paper aims to integrate the money market into the structure of the economy. The microfoundation is the starting … point to define the money market and the general equilibrium mechanism of the economy. On this basis, this research seeks a … linking mechanism of the money market with economic activity in the general equilibrium framework. The relationships between …