COWLES FOUNDATION FOR RESEARCH IN ECONOMICS
AT YALE UNIVERSITY

Box 208281
New Haven, CT 06520-8281

COWLES FOUNDATION DISCUSSION PAPER NO. 1439

The Edgeworth, Cournot and Walrasian Cores of an Economy

Martin Shubik

October 2003

Three variations of the core of a market game representing an exchange economy are considered and compared. The possibility for utilizing the Walrasian core to reflect certain monetary phenomena is noted.

Keywords: Market games, Strategic market game, Exchange economy, Core, Characteristic function

JEL Classification: C71, D5