Business Intelligence

Marshallian Money, Welfare, And Side-payments

Download Now Free registration required

Executive Summary

A link between a No-Side-Payment (NSP) market game and a Side-Payment (SP) market game can be established by introducing a sufficient amount of an ideal utility-money of constant marginal utility to all agents. At some point when there is "Enough money" in the system, if it is "Well distributed" the new game will be a SP game. This game can also be related to a pure NSP game where a set of default parameters have been introduced. These parameters play a role similar to the parameters specifying the interpersonal comparisons in the side-payment game.

  • Format: PDF
  • Size: 304.3 KB