Martin Shubik: Curriculum Vitae

	LIST OF PUBLICATIONS: Theory of Money
	Publications by Topic Game Theory and Operations Research Theory of Money Experimental and Other Gaming Political Science Defense Analysis Economic Theory Miscellaneous Topics


	A.	BOOKS

	17.	Money and Financial Institutions – A Game Theoretic Approach: The Selected Essays of Martin Shubik Volume Two, Cheltenham, UK; Northampton, MA: Edward Elgar Publishing Limited, 1999.
	18.	The Theory of Money and Financial Institutions Volume I, Cambridge, MA; UK: MIT Press, 1999.
	19.	The Theory of Money and Financial Institutions Volume 2, Cambridge, MA; UK: MIT Press, 1999.

	B.	ARTICLES

		1970-1971
	71.	“On Different Methods for Allocating Resources,” Kyklos, 23, 2, 1970, 332-337.
	91.	“Pecuniary Externalities: A Game Theoretic Analysis,” The American Economic Review, 61, 4, September 1971, 713-718. CFP 355 & CFDP 288.

		1972-1973
	99.	“A Theory of Money and Financial Institutions: Fiat Money and Noncooperative Equilibrium in a Closed Economy,” International Journal of Game Theory, I, 4, 1972, 243-268. CFDP 330.
	103.	“Commodity Money, Oligopoly, Credit and Bankruptcy in a General Equilibrium Model,” Western Economic Journal, 11, 1, March 1973, 24-38. CFP 391.
	104.	“Fiat Money in an Economy with One Nondurable Good and No Credit (A Noncooperative Sequential Game)” (with W. Whitt) in Topics in Differential Games (A. Blaquiere, ed.), Amsterdam: North Holland, 1973, 401-448. CFP 389 & CFDP 355.

		1974-1975
	111.	“Money, Trust and Equilibrium Points in Games in Extensive Form,” Zeitschrift fur Nationalokonomie, 3, 4, 1974, 365-385. CFP 420.
	112.	“On the Eight Basic Units of a Dynamic Economy Controlled by Financial Institutions,” Review of Income and Wealth, 21, 2, 1975, 183-201. CFP 430 & CFDP 367.
	121.	“The General Equilibrium Model is Incomplete and Not Adequate for the Reconciliation of Micro and Macroeconomic Theory,” Kyklos, 28, 3, 1975, 545-73. CFP 432.
	122.	“Mathematical Models for a Theory of Money and Financial Institutions,” in Adaptive Economic Models (R. H. Day and T. Groves, eds.), New York: Academic Press, 1975, 513-574. CFDP 377.

		1976-1977
	125.	“A Noncooperative Model of a Closed Trading Economy with Many Traders and Two Bankers,” Zeitschrift fur Nationalokonomie, 36, 1976, 49-60. CFP 438.
	126.	“A Theory of Money and Financial Institutions, Part 27: Beyond General Equilibrium,” Economie Applique, 29, 2, 1976, 319-337. CFP 441 & CFDP 462.
	130.	“A Closed Economy with Exogenous Uncertainty, Different Levels of Information, Money, Futures and Spot Markets” (with P. Dubey), International Journal of Game Theory, 6, 4, 1977, 231-248. CFP 466 & CFDP 414.
	131.	“Banks, Insurance and Futures Markets of a Trading Economy with Money, Exogenous Uncertainty and an Optimal Bankruptcy Rule,” Lecture Notes, Berlin: Springer-Verlag, 1977, 668-692.
	132.	“The Optimal Bankruptcy Rule in a Trading Economy Using Fiat Money” (with C. Wilson), Zeitschrift fur Nationalokonomie, 37, 3-4, 1977, 337-354. CFP 465.
	134.	“Trade Using One Commodity as a Means of Payment” (with L. Shapley), The Journal of Political Economy, 85, 5, October 1977, 937-968. CFP 450.
	135.	“Competitive and Controlled Price Economies: The Arrow-Debreu Model Revisited,” in Equilibrium and Disequilibrium in Economic Theory (G. Schwodiauer, ed.), Dordrecht, Holland: D. Reidel, 1977, 213-224. CFP 461.
	136.	“Trade and Prices in a Closed Economy with Exogenous Uncertainty and Different Levels of Information” (with P.Dubey), Econometrica, 45, 7, October 1977, 1657-1680. CFP 453.

		1978-1979
	139.	“Geld-und finanzwirtschaftliche Institutionen unter dem Aspekt der Theorie nicktkooperativer Spiele,” translated from the English by Rainer Giersch, Verhandlungen auf der Arbeitstagung des Vereins fur Socialpoltik Gesellschaft fur Wirtschafts-und Sozialwissenschaften in Munster, 1977, Neuere Entwicklungen in den Wirfschaftswissenschaften, Berlin: Duncker and Humblot, 1978.
	140.	“A Theory of Money and Financial Institutions,” Economie Applique, 31, 1 and 2, 1978, 61-84. CFDP 462.
	141.	“The Noncooperative Equilibria of a Closed Trading Economy with Market Supply and Bidding Strategies” (with P. Dubey), Journal of Economic Theory, 17, 1, February 1978, 1-20. CFP 473 & CFDP 422.
	142.	“A Closed Economic System with Production and Exchange Modelled as a Game of Strategy” (with P. Dubey), Journal of Mathematical Economics, 4, 1, March 1977, 253-287. CFP 460 & CFDP 429.
	146.	“A Dynamic Economy with Fiat Money Without Banking but with Ownership Claims to Production Goods,” Hommage a Francois Perroux Presses Universitaires de Grenoble, 1978, 675-688.
	149.	“Trade with Fiat Money but No Individual Trust: A Preliminary Stage Towards Banking,” Pioneering Economics, Cedam-Padova, 1978, 937-989. CFDP 363.
	154.	“On the Number of Types of Markets with Trade in Money: Theory and Possible Experimentation,” in Research in Experimental Economics (V. L. Smith, ed.), JAI Press, April 1979, Vol. 1. CFDP 446.
	155.	“Bankruptcy and Optimality in a Closed Trading Mass Economy Modelled as a Non-Cooperative Game” (with P. Dubey), Journal of Mathematical Economics, 6, 1979, 115-134. CFDP 488.

		1980-1981
	160.	“The Capital Stock Modified Competitive Equilibrium,” in Models of Monetary Economies (J. H. Karaken and N. Wallace, eds.), Federal Reserve Bank of Minneapolis, 1980. CFDP 507.
	161.	“Efficiency Properties of Strategic Market Games: An Axiomatic Approach” (with P. Dubey and A. Mas-Colell), Journal of Economic Theory, 22, 2, April 1980, 339-362. CFP 501.
	169.	“A Price-Quantity Buy-Sell Market With and Without Contingent Bids,” in Studies in Economic Theory and Practice (J. Los, et. al., eds.), Amsterdam: North Holland, 1981, 117-25.
	170.	“Society, Land, Love or Money (A Strategic Model of How to Glue the Generations Together),” Journal of Economic Behavior and Organization, 2, 4, December 1981. CFP 555 & CFDP 559.

		1982-1983
	185.	“The Strategic Audit: A Game Theoretic Approach to Corporate Competitive Strategy,” Managerial and Decision Economics, 4, 3, 1983, 160-171. CFP 578.
	186.	“Interest Rates, Policy, Business and Theory,” in The Interest Rate Dilemma (Terry Sanford, ed.), NY: KCG Production, Inc., 1983, 116-156.

		1984-1985
	190.	“Noncooperative Exchange Using Money and Broker-Dealers”(with K. O. Nti), International Journal of Mathematical Social Sciences, 7, 1984, 59-82.
	201.	“A Note on Enough Money in a Strategic Market Game With Complete or Fewer Markets,” Economics Letters, 19, 1985, 231-235. CFDP 730.

		1986-1987
	202.	“A Strategic Market Game with Transactions Costs” (with J. Rogawski), Mathematical Social Sciences, 11, 2, 1986, 139-160.
	206.	“Strategic Market Game: A Dynamic Programming Application to Money, Banking and Insurance,” Mathematical Social Sciences, 12, 1986, 65-278. CFDP 715 & CFP 661.
207.	“The Games Within the Game: Modeling Politico-Economic Structures,” in Guidance, Control, and Evaluation in the Public Sector, Part 5 (F.-X. Kaufmann, G. Majone, and V. Ostrom, eds.), Walter de Gruyter: Berlin-New York, 1986. CFP 647.
209.	“The Revelation of Information in Strategic Market Games,” (with P. Dubey and J. Geanakoplos), The Journal of Mathematical Economics, 16, 1987, 105-137. North Holland. CFP 686.
210.	“The Unique Minimal Cash Flow Competitive Equilibrium,” Economics Letters, 25, 1987, 303-306.

	1988-1989
212.	“A Note on an Optimal Garnishing Rule,”(with P. Dubey), Economics Letters, 27, 1988, 5-6. CFP 708.
215.	“Gold, Liquidity and Secured Loans in a Multistage Economy Part I: Gold as Money,” Journal of Economics (Zeitschrift fur Nationalokonomie), 49, 3, 1989, 245-277. (NSF) CFP 731 & CFDP 87lR.

	1990-1991
218.	“Money and Financial Institutions: A Game Theoretic Approach,” Handbook of Monetary Economics, (B. Friedman, F. Hahn, eds.), l990.
219.	“On Strategic Market Game Models of Exchange Economies,” in Game Theory and Applications, Academic Press, (T. Ichiishi, A. Neymen, and Y. Tauman, eds.), 1990, 252-272.
220.	“The Capital Asset Pricing Model as a General Equilibrium with Incomplete Markets,” (with J. Geanakoplos), Geneva Papers on Risk and Insurance Theory, 15, l, 1990, 55-71. CFP 759.
221.	“Gold, Liquidity and Secured Loans in a Multistage Economy Part II: Many Durables Land and Gold,” (with S. Yao), Journal of Economics, 52, 1990, l-23. CFDP 904.
222.	“The Transactions Cost of Money (A Strategic Market Game Analysis),” (with S. Yao), in International Journal of Mathematical Social Sciences, 20, 2, 1990, 99-114. CFDP 902.
223.	“A Strategic Market Game with Complete Markets,” (with R. Amir, S. Sahi, and S. Yao), Journal of Economic Theory, 51, 1, 1990, 126-143. CFP 757.
227.	“The Transactions Trust Demand for Money (The Money Rate of Interest in a One Period Exchange Economy),” Journal of Economics 52, 3, 1990, 211-232.
228.	“A Strategic Market Game of a Finite Exchange Economy with a Mutual Bank,” (with J. Zhao), Mathematical Social Sciences, 22, 3, 1991, 257-274.

	1992-1993
229.	“On Matching Book: A Problem in Banking and Corporate Finance,” (with M. Sobel), Management Science, 38, 6, 1992, 827-839. CFP 816.
231.	“A Strategic Market Game with a Mutual Bank with Fractional Reserves and Redemption in Gold,” (with D. Tsomocos), Journal of Economics, (Zeitshrift fur Nationalokonomie), 55, 2, 2, 1992, 123-150. CFP 812.
234.	“Repeated Trade and the Velocity of Money,” (with P. Dubey and S. Sahi), Journal of Mathematical Economics, (NSF), 22, 2, 1993, 125-137. CFDP 895.

	1994-1995
240.	Some Dynamics of a Strategic Market Game with a Large Number of Agents” (with J. Miller), Journal of Economics, 60, 1, September 1994, 1-28.
242.	“Dynamic Solutions to a Strategic Market Game: Analysis Programming and a Genetic Algorithm Approach,” (with G. Bond and J. Liu), Many Agent Simulation and Artificial Life,” (E. Hillebrand and J. Stender, eds.), IOS Press, 1994.

	1996-1997
246.	“A Strategic Market Game with Secured Lending,” (with Ioannis Karatzas and William D. Sudderth), Journal of Mathematical Economics, 28, 2, 1997, 207-247. CFDP 1099.
249.	“Trade With Assignats or Landbank Money: Equilibria in a Finite-Person Strategic Market Game,” (with A. K. Jayawardene), Journal of Mathematical Economics, Elsevier Press, 27, 2, March 1997, 143-162.
250.	“Price Variations in a Stock Market With Many Agents,” (with Per Bak and Maya Paczuski) in Physica A, 246, 3-4, December 1, 1997, 430-453.
251.	“Experts, Noise Traders and Fat Tail Distributions,” (with Per Bak and Maya Paczuski), Economics Notes, 26, 2, 1997, 251-290.
253.	“Time and Money,” in The Economy as a Complex Evolving System II, edited by W. Brian Arthur, Steven Durlauf, and David Lane, Reading, MA: Addison-Wesley, 1997. CFDP 1112.

	1998-1999
254.	“Insurance Market Games: Scale Effects and Public Policy,” (with Michael R. Powers and Shun Tian Yao), Journal of Economics, 67, 2, 1998, 109-134.
257.	“Game Theory, Complexity and Simplicity Part III: Critique and Prospective,” in Complexity, 3, 5, May 1998, 34-46.
258.	“On the Tradeoff Between the Law of Large Numbers and Oligopoly in Insurance,” (with Michael R. Powers), in Insurance: Mathematics and Economics, 23, 2, November 1998, 141-156.
260.	“Reinsurance and Retrocession: Optimal Configurations for an Evolving Market,” The Proceedings of the International Insurance Society Annual Seminar, Berlin, Germany, July 15, 1999.
261.	“Quantum Economics, Uncertainty and the Optimal Grid Size,” Economics Letters, 64, 3, September 1999, 277-278.
262.	“Dynamics of Money,” (with P. Bak and S.F. Nørrelykke), in Physical Review E, 60, 3, September 1999, 2528-2532.

	2000-2001
268.	“On Understanding Money,” World Economics, 2, 1, January-March 2001, 95-120.
271.	“Toward a Theory of Reinsurance and Retrocession,”(with Michael Powers), Insurance: Mathematics & Economics, 29, 2, 2001, 271-290.

	2002-2003
273.	“A Strategic Market Game with Seigniorage Costs of Fiat Money,” (with Dimitrios Tsomocos), Economic Theory,19, 2002, 187-201.

	Accepted and Forthcoming (articles)
279.	“Money and the Monetization of Credit,” to appear in forthcoming Festschrift, Charles Goodhart, March-April 2002.

Publications by Topic Game Theory and Operations Research Theory of Money Experimental and Other Gaming Political Science Defense Analysis Economic Theory Miscellaneous Topics

Last updated 2/11/02