The author considers an exchange model with indivisible goods and a perfectly divisible good, namely, money. This model was presented by M. Quinzii (1984) as an extension of the Shapley-Scarf model without divisible goods. The author proves that the strong core always coincides with the set of...

Three models of a monetary economy are considered, in order to show the effects of a gold demonetization: the first with a gold money, the second with demonetized gold but no central bank, and the third with demonetized gold, but with a central bank. The distinctions between ownership and...

Consider a simple game with n players. Let ψ<Subscript>i</Subscript> be the Shapley–Shubik power index for player i. Then 1-ψ<Subscript>i</Subscript> measures his powerlessness. We break down this powerlessness into two components – a `quixote index' Q <Subscript>i</Subscript> (which measures how much of a `quixote' i is), and a `follower...</subscript></subscript></subscript>