In general screening problems, implementable allocation rules correspond exactly to Walrasian equilibria of an economy in which types are consumers with quasilinear utility and unit demand. Due to the welfare theorems, an allocation rule is implementable if and only if it induces an efficient...

The concept of 'the core' originates in cooperative game theory and its introduction to economics in the 1960s as a basis for proofs of existence of general equilibrium is one of the earliest attempts to use game theory to address big questions in economics. Discovery of the core was met with...

We present a comprehensive theory of large non-anonymous games in which agents have a name and a determinate social-type and/or biological trait to resolve the dissonance of a (matching-pennies type) game with an exact pure-strategy Nash equilibrium with finite agents, but without one when...

The theory of large one-shot simultaneous-play games with a biosocial typology has been presented in both the individualized and distributionalized forms-large individualized games (LIG) and large distributionalized games (LDG), respectively. Using an example of an LDG with two actions and a...

The purpose of this paper is to provide an alternative version of a generalized game, slightly different from the one provided in the seminal paper of Arrow and Debreu (1954). In this revised framework, we introduce the concept of a competitive equilibrium and show how it can be applied to a...

An adequate description of economic dynamics requires the introduction of a monetary system including default penalties and expectations in a society whose economy utilizes money and credit. This essay notes and discusses several of the factors involved in the use of money and credit in a...

This contribution deals with the fundamental critique in Dinar et al. (1992, Theory and Decision 32) on the use of Game theory in water management: People are reluctant to monetary transfers unrelated to water prices and game theoretic solutions impose a computational burden. For the bilateral...

The main result of this paper states that there exists a residual subset of the set of critical economies whose associated equilibria are finite in number. We also show that this subset does not contain any open set and therefore the result is the best possible for our choice of topology...

This essay is the second of three. The first is nontechnical and in part autobiographical describing the evolution of my approach to developing a micro economic theory of money and financial institutions. This essay is devoted to a mathematical sketch of a closed economic exchange system with...