Equilibrium in the jungle

Michele Piccione; Ariel Rubinstein

doi:10.1111/j.1468-0297.2007.02072.x

Equilibrium in the jungle

Michele Piccione^*, Ariel Rubinstein

^*Corresponding author for this work

School of Economics

Research output: Contribution to journal › Article › peer-review

75 Scopus citations

Abstract

In the jungle, power and coercion govern the exchange of resources. We study a simple, stylised model of the jungle that mirrors an exchange economy. We define the notion of jungle equilibrium and demonstrate that a number of standard results of competitive markets hold in the jungle.

Original language	English
Pages (from-to)	883-896
Number of pages	14
Journal	Economic Journal
Volume	117
Issue number	522
DOIs	https://doi.org/10.1111/j.1468-0297.2007.02072.x
State	Published - Jul 2007

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Equilibrium in the jungle

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