{"product_id":"hierarchically-structured-economies-models-with-bilateral-exchange-institutions-von-willy-spanjers","title":"Hierarchically Structured Economies","description":"In six chapters this book introduces a micro-economic model  where trade takes place through a stable structure of bilateral  exchange institutions.The main problem in such models is that, for  well-known equilibrium concepts, equilibrium may fail to exist in the  corresponding game. In this work an adaptation of such models -  hierarchically structured economies - is introduced. The  possibilities and limitations of the use of the concept of subgame  perfect equilibrium within the context of this kind of models is  discussed. Furthermore, it is shown that some well-known market forms,  viz. Walrasian and monopolistic markets, occur as special cases. A  modification of the concept of subgame perfect equilibrium is  introduced to formulate and prove a general theorem on the existence  of equilibrium in hierarchically structured economies.\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9780792343981\"\u003e\u003ch3\u003eModels with Bilateral Exchange Institutions\u003c\/h3\u003e\u003c\/div\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9781441947710\"\u003e\u003ch3\u003eModels with Bilateral Exchange Institutions\u003c\/h3\u003e\u003c\/div\u003e","brand":"Libri","offers":[{"title":"Hardcover - 9780792343981","offer_id":50726121606,"sku":"9780792343981","price":106.99,"currency_code":"EUR","in_stock":true},{"title":"Softcover - 9781441947710","offer_id":39415355244637,"sku":"9781441947710","price":106.99,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/27c92fef-dd44-4a09-b0d4-89f290d6b28c.jpg?v=1761715386","url":"https:\/\/shop.autorenwelt.de\/products\/hierarchically-structured-economies-models-with-bilateral-exchange-institutions-von-willy-spanjers","provider":"Autorenwelt Shop","version":"1.0","type":"link"}