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. The approach involves a search for                  minimal financial institutions that appear as a logical, technological, and                  institutional necessity, as part of the "rules of the game." Money and financial                  institutions are assumed to be the basic elements of the network that transmits the                  sociopolitical imperatives to the economy.Volume 1 deals with a one-period approach                  to economic exchange with money, debt, and bankruptcy. Volume 2 explores the new                  economic features that arise when we consider multi-period finite and infinite                  horizon economies. Volume 3 will consider the specific role of financial                  institutions and government, and formulate the economic financial control problem                  linking micro- and macroeconomics.

The Theory of Money and Financial Institutions, Vol. 2 PDF

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