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Martin Shubik

Martin Shubik is Seymour Knox Professor of Mathematical Institutional Economics (Emeritus) at Yale University’s Cowles Foundation and School of Management. He is the author of the three-volume work The Theory of Money and Financial Institutions (MIT Press) and other books. He is External Faculty of the Santa Fe Institute.

Titles by This Author

This book offers a rigorous study of control, guidance, and coordination problems of an enterprise economy, with attention to the roles of money and financial institutions. The approach is distinctive in drawing on game theory, methods of physics and experimental gaming, and, more generally, a broader evolutionary perspective from the biological and behavioral sciences. The proposed theory unites Walrasian general equilibrium with macroeconomic dynamics and Schumpeterian innovation utilizing strategic market games.

This is the third and last volume of Martin Shubik’s exposition of his vision of “mathematical institutional economics”--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using strategic market games and other game-theoretic methods.

This is the second volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"—a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form.

This is the first volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form.

Concepts and Solutions

Winner of the 1983 Lanchester Prize of the Operations Research Society of America

This book by a recognized authority on game theory and its applications introduces social scientists in a variety of disciplines to this powerful methodology. The emphasis throughout is on the empirical approach to model building and testing within the context of real-world situations.