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Models of economic equilibria

  • V. L. Makarov
  • A. M. Rubinov
Chapter

Abstract

In this chapter, we present a game-theoretic approach to economic models. The notation of optimal trajectories has, so far in this book, presupposed a certain optimality criterion. In many economic situations, it is not realistic to assume a single optimality criterion. Each component of the economic system may have a distinct optimality criterion. Thus it is natural to utilize a game-theoretic approach in our analysis.

Keywords

Nash Equilibrium Optimal Trajectory Competitive Equilibrium Economic Equilibrium Nash Equilibrium State 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag New York, Inc. 1977

Authors and Affiliations

  • V. L. Makarov
    • 1
  • A. M. Rubinov
    • 1
  1. 1.Siberian Branch of the Academy of SciencesRussia

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