Equilibrium in the jungle

Michele Piccione, Ariel Rubinstein

    Research output: Contribution to journalArticle

    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 languageEnglish (US)
    Pages (from-to)883-896
    Number of pages14
    JournalEconomic Journal
    Volume117
    Issue number522
    DOIs
    StatePublished - Jul 1 2007

      Fingerprint

    ASJC Scopus subject areas

    • Economics and Econometrics

    Cite this

    Piccione, M., & Rubinstein, A. (2007). Equilibrium in the jungle. Economic Journal, 117(522), 883-896. https://doi.org/10.1111/j.1468-0297.2007.02072.x