COWLES FOUNDATION FOR RESEARCH IN
ECONOMICS Box 208281
COWLES FOUNDATION DISCUSSION PAPER NO. 750 "The Numeraire, Money and the Missing Degree of Freedom" Martin Shubik May 1985 The prime purpose of this article is to illustrate some basic problems in the modelling
of strategic market games with a single means of exchange or with complete markets. A
simple example involving three types of traders trading in three commodities serves to
make the points clear. |
