Martin J. Shubik, 1926-

Portrait of M. Shubik

Martin Shubik is a mathematical economist at Yale and a pioneer of game theory and the "Edgeworthian revival" in general equilibrium theory.

 

Major Works of Martin J. Shubik

  • "A Business Cycle Model with Organized Labor Considered", 1952, Econometrica.
  • "A Comparison of Treatments of a Duopoly Problem", 1955, Econometrica.
  • "Market Form: Intent of the firm and market behavior", 1957, ZfN.
  • "Edgeworth Market Games", 1959, in Luce and Tucker, editors, Contributions to the Theory of Games IV.
  • Strategy and Market Structure, 1959.
  • "Objective Functions and Models of Corporate Optimization", 1961, QJE.
  • "Approaches to the Study of Decision Making Relevant to the Firm", 1961, J of Business [cwls]
  • "Some Experimental Non-Zero Sum Games with Lack of Information About the Rules", 1962, Management Science [cwls]
  • "Incentives, Decentralized Control, the Assignment of Joint Costs and Internal Pricing", 1962, Management Science. [cwls]
  • "Game Theory and the Study of Social Behavior", 1964, in Shubik, editor, Game Theory and Relate Approaches.
  • "Quasi-Cores in a Monetary Economy with Non-Convex Preferences", with L.S.Shapley, 1966, Econometrica. [cwls]
  • "Concepts and Theories of Pure Competition", with L.S. Shapley, 1967, in Shubik, editor, Essays in Mathematical Economics.
  • "Ownership and the Production Function", with L.S. Shapley,  1967, QJE. [cwls]
  • "Simulation of  Socio-Economic Systems", 1967, General Systems [cwls]
  • "Toward a Study of Bidding Processes Part IV: Games with Unknown Costs", with J.H. Griesmer and R.E. Levitan,  1967, Naval Research Logistics Quarterly [cwls]
  • "Game Theory: Economic Applications", 1968, IESS [cwls]
  • "Extended Edgeworth Bargaining games and Competitive Equilibrium", 1968, Metroeconomica.[cwls]
  • "A Further Comparison of Some models of Duopoly", 1968, Western EJ. [cwls]
  • "Welfare, Static and Dynamic Solution Concepts", 1968, Décision: Agrégation et Dynamique des Ordres de Préférence [cwls]
  • "Pure Competition, Coalitional Power and Fair Division", with L.S.Shapley,1969, IER. [cwls]
  • "On Market Games",with L.S.Shapley, 1969, JET. [cwls]
  • "On the Core of an Economic System with Externalities" with L.S.Shapley, 1969, AER.
  • "Price Strategy Oligopoly with Product Variation" with L.S.Shapley, 1969, Kyklos. [cwls]
  • "Voting, or a Price System in a Competitive Market Structure", 1970, APSR [cwls]
  • "Game Theory, Behavior and the Paradox of the Prisoner's Dilemma: Three solutions", 1970, Journal of Conflict Resolution.
  • "The Bridge Game Economy: An example of invisibilities", 1971, JPE. [cwls]
  • "Pecuniary Externalities: A game theoretic analysis", 1971, AER. [cwls]
  • "The Dollar Auction Game: A paradox in non-cooperative behavior and escalation", 1971, J of Conflict Resolution [pdf]
  • "Games of Status", 1971, Behavioral Science [cwls]
  • "Price Variation Duopoly with Differentiated Products and Random Demand" with R. Levitan, 1971, JET [cwls]
  • "Noncooperative Equilibria and Strategy Spaces in an Oligopolistic Market" with R. Levitan, 1971,  in Kuhn and Szego, editors, Mathematical  Models of Action and Reaction [cwls]
  • "An Experiment with Ten Duopoly Games and Beat-the-Average Behavior", with Martin Riese, 1971 [pdf]
  • "On the Scope of Gaming", 1972, Management Science [cwls]
  • "Price Duopoly and Capacity Constraints", with R. Levitan, 1972, IER [cwls]
  • "The Assignment Game, I: The core" with L.S.Shapley, 1972, Int Journal of Game Theory. [pdf]
  • "Fiat Money and Noncooperative Equilibrium in a Closed Economy", 1972, Int Journal of Game Theory.
  • "Commodity Money, Credit and Bankruptcy in a General Equilibrium Model", 1972, Western EJ.
  • Models, Simulations and Games: a survey, with G.D. Brewer, 1972 [arpa pdf]
  • "Fiat Money in an Economy with One Nondurable Good and No Credit (A Noncooperative Sequential Game)." with W. Whitt, 1973,  in A. Blaquiere, editor, Topics in Differential Games [cwls]
  • "Commodity Money, Oligopoly, Credit and Bankruptcy in a General Equilibrium Model", 1973, Western EJ. [cwls]
  • "Information, Duopoly and Competitive Markets: A sensitivity analysis", 1973, Kyklos. [cwls]
  • "The Core of a Market Game with Exogenous Risk and Insurance", 1973, New Zealand Economic Papers [cwls]
  • "The General Equilibrium Model: Barter and Trust, or Mass Markets with Money and Credit", 1974, Econ Record [cwls]
  • "Money, Trust and Equilibrium Points in Games in Extensive Form", 1975, ZfN [cwls]
  • "Oligopoly Theory, Communication, and Information", 1975, AER 
  • "Competitive Equilibrium, the Core, Preferences for Risk and Insurance Markets", 1975, Econ Record
  • "The General Equilibrium Model is Incomplete and Not Adequate for the Reconciliation of Micro and Macro-economic Theory", 1975, Kyklos
  • Games for Society, Business and War, 1975.
  • The Uses and Methods of Gaming, 1975.
  • "A Non-Cooperative Model of a Closed Economy with Many Traders and Two-Bankers", 1976, ZfN.
  • "Competitive Outcomes in the Cores of Market Games" with L.S. Shapley, 1976, IJGT
  • "Trade Using One Commodity as a Means of Payment" with L.S. Shapley, 1977, JPE.
  • "Competitive and Controlled Price Economies: the Arrow-Debreu model revisited", 1977, in Schwodiauer, editor, Equilibrium and Disequilibrium in Economics.
  • "An Example of a Trading Economy with Three Competitive Equilibria", 1977, with L.S. Shapley, JPE
  • "Competitive Equilibrium Contingent Commodities and Information", 1977, J of Finance
  • "The Optimal Bankruptcy Rule in a Trading Economy using Fiat Money", with C. Wilson, 1977, ZfN.
  • "A Theory of Money and Financial Institutions", 1978, Economie Appliquee.
  • "Trade and Prices in a Closed Economy with Exogenous Uncertainty, Different Levels of Information, Money and Compound Futures Markets", with P. Dubey, 1977, Econometrica
  • "A Closed Economic System with Production and Exchange Modelled as a Game of Strategy"  with P. Dubey, 1977, JMathE
  • "A Closed Economy with Exogenous Uncertainty, Different Levels of Information, Money, Futures and Spot Markets" with P. Dubey, 1977, IJGT
  • "The Nucleolus as a Noncooperative Game Solution", with H.P. Young, 1978, in Ordeshook, editor, Game Theory and Political Science.
  • "Duopoly with Price and Quantity as Strategic Variables", with R. Levitan, 1977, IJGT
  • "A Theory of Money and Financial Institutions: The Noncooperative Equilibria of a Closed Trading Economy with Market Supply and Bidding Strategies." with P. Dubey, 1978, IJGT
  • "Bankruptcy and Optimality in a Closed Trading Mass Economy Modelled as a Non-Cooperative Game", with P. Dubey,1978, JMathE
  • The War Game, with G. Brewer, 1979.
  • The Aggressive Conservative Investor, 1979
  • "The Capital Stock Modified Competitive Equilibrium", 1980, in Kareken and Wallace, Models of Monetary Economies.
  • Market Structure and Behavior, with R.E. Levitan, 1980.
  • "Efficiency Properties of Strategic Market Games: An Axiomatic Approach"  with P. Dubey and A. Mas- Colell, 1980, JET [cwls]
  • "Efficiency of Cournot-Nash Equilibria in Strategic Market Games" with P. Dubey and A. Mas- Colell, 1980.
  • "A Strategic Market Game with Price and Quantity Strategies" with P. Dubey, 1980, ZfN
  • The Aggressive Conservative Investor, with M.J. Whitman, 1980.
  • Market Structure and Behavior, with R.E. Levitan, 1980.
  • Game Theory in the Social Sciences: Concepts and solutions, 1981.
  • Game Theory Models and Methods in Political Economy", 1981, in Arrow and Intriligator, editors, Handbook of Mathematical Econ, Vol. I - intro
  • "Competitive Valuation of Cooperative Games", with R.J. Weber, 1981, Mathematics of Operations Research.
  • "Information Conditions, Communication and General Equilibrium", with P. Dubey, 1981, Mathematics of Operations Research
  • "Perfect or Robust Noncooperative Equilibrium: A Search for the Philosophers Stone?", 1981, in  Essays in Game Theory and Mathematical Economics
  • "Society, Land, Love or Money", 1981, JEBO
  • "The Strategic Audit: A Game Theoretic Approach to Corporate Competitive Strategy", 1983,  Management and Decision Economics 
  • "Approximate Cores of Replica Games and Economies, Part I & II" with M. Wooders, 1983,  Mathematical Social Sciences
  • "Perfect Competition in Strategic Market Games with Interlinked Preferences" with P. Dubey, 1985, Econ Letters
  • "A Note on Enough Money in a Strategic Market Game with Complete or Fewer Markets", 1985, Econ Letters
  • "The Cooperative Form, the Value, and the Allocation of Joint Costs and Benefits", 1985, in Young, editor, Cost Allocation
  • "A Strategic Market Game with Transactions Costs" with J. Rogawski, 1986, Math Soc Sciences
  • "The Many Approaches to the Study of Monopolistic Competition", 1986, European ER
  • "A Note on the 'Corelessness' or Antibalance of a Game" with S. Weber, 1986, IJGT
  • "Strategic Market Game: A Dynamic Programming Application to Money, Banking and Insurance", 1986, Math Soc Sciences
  • "Near-Markets and Market Games" with M. Wooders, 1986, ESQ [pdf]
  • "The Revelation of Information in Strategic Market Games", with P. Dubey and J. Geanakoplos, 1987, JMathE
  • "What Is an Application and When Is Theory a Waste of Time?", 1987, Management Science
  • "The Unique Minimal Cash Flow Competitive Equilibrium", 1987, Econ Letters
  • "Revenge and Rational Play" with B. Nalebuff, 1988
  • "Gaming: Theory and Practice, Past and Future", 1989, Simulation and Games
  • "Gold, Liquidity and Secured Loans in a Multistage Economy, Part I: Gold as Money" with S. Yao, 1989, J of Economics
  • "Gold, Liquidity and Secured Loans in a Multistage Economy, Part II: Many Durables, Land and Gold" with S. Yao, 1990, J of Economics
  • "A Strategic Market Game with Complete Markets", with S. Sahi, R. Amir and S. Yao, 1990, JET
  • "The Transactions Cost of Money (A Strategic Market Game Analysis)" with S. Yao, 1990, Math Soc Sciences
  • "The Transactions Trust Demand for Money", 1990, J of Economics
  • "The Capital Asset Pricing Model as a General Equilibrium with Incomplete Markets" with J. Geanakoplos, 1990, Geneva Papers on Risk & Insurance
  • "A Game Theoretic Approach to the Theory of Money and Financial Institutions." 1990, in Friedman and Hahn, editors, Handbook of Monetary Economics
  • "A Strategic Market Game of a Finite Exchange Economy with a Mutual Bank", with J. Zhao, 1991, Math Soc Sciences
  • "A Strategic Market Game with a Mutual Bank with Fractional Reserves and Redemption in Gold (A
    Continuum of Traders)", with D. Tsomocos, 1992, J of Economics
  • "On Matching Book: A Problem in Banking and Corporate Finance" with M.J. Sobel, 1992, Management Science
  • The Theory of Money and Financial Institutions, 1993.
  • "Repeated Trade and the Velocity of Money", with P. Dubey and S. Sahi, 1993, JMathE 
  • "Prominence, Symmetry, or Other?", 1994, Games & Econ Behav.
  • "Some Dynamics of a Strategic Market Game with a Large Number of Agents" with J.M. Miller, 1994, J of Economics
  • "Construction of Stationary Markov Equilibria in a Strategic Market Game" with I. Karatzas and W.D. Sudderth, 1994, Math of Operations Research
  • "Why Equilibrium? A Note on the Noncooperative Equilibria of Some Matrix Games", 1996, JEBO
  • "Trade with Assignats or Landbank Money: Equilibria in a Finite-Person Strategic Market Game", with  A.K. Jayawardene, 1997, JMathE
  • "A Theorem on the Number of Nash Equilibria in a Bimatrix Game" with T. Quint, 1997, IJGT
  • "Some Simple Games for Teaching and Research. Part 1: Cooperative Games" [cwls]
  • "Game Theory, Complexity, and Simplicity. Part III: Critique and Prospective", 1998, Complexity [cwls]
  • "Terrorism, Technology and Socio-economics of Death", 1998 [pdf]
  • "Clubs, Near Markets and Market Games," with M.Wooders, 2000, Fields Institute Communications
  • "The Theory of Money", 2000 [cwls]
  • "Default in a General Equilibrium Model with Incomplete Markets" with P. Dubey and J. Geanakoplos [cwls]
  • "Fiat Money and the Efficient Financing of the Float, Production and Consumption. Part I: The Float" [cwls]
  • "War Gaming in the Information Age: theory and purpose" with Paul Bracken, 2001, Naval War College Review [pdf]
  • "Accounting and Economic Theory", 2002 [ssrn]
  • "Is economics the next physical science?" with J.D. Farmer and E. Smith, 2005, Physics Today [pdf; cwls]
  • "Everyone-a-Banker or the Ideal Credit Acceptance Game: Theory and Experimental Evidence" with J. Huber and S. Sunder, [pdf]
  • "An Economy with Personal Currency: Theory and evidence" with M. Angerer, J. Huber and S. Sunder, 2008 [pdf]
  • "Proposal for a Federal Employment Reserve Authority", 2009 [levy]
  • "The Present and Future of Game Theory", 2011 [cowles]
  • "Simecs, Ithaca Hours, Berkshares, Bitcoins and Walmarts", 2014 [pdf]

 


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