Money and Financial Institutions – A Game Theoretic Approach

‘Martin Shubik has been one of the great pioneers in the application of game theory to economic problems. His work sheds considerable light on fundamental institutions such as the price system and money.’ – Eric Maskin, Harvard University, US‘The two volumes of the Selected Essays of Professor Shubik present a recognizably most valuable collection. The earlier publication of Shubik’s book Game Theory in the Social Sciences was very much appreciated and won the Lanchester Prize of the Operations Research Society of America. This illustrates how the work of Martin Shubik connects ideas, precision, and methods of mathematics with a real understanding of what are the relevant issues which make an otherwise generic scientific question indeed a question of economic interest and significance (and the same can be said a little more broadly with ‘the social sciences’ replacing economics). The volumes are of interest because the papers that are included are well-chosen and in particular include interesting collaborations of Shubik with co-authors such as Dubey and Shapley.’ – John Nash, Princeton University, US‘Game theory is now a mainstay of a wide range of disciplines within economics and elsewhere. The credit for recognizing its potentiality belongs to a small group of dedicated researchers, of whom one of the liveliest and most influential is Martin Shubik. These essays are a testament to his remarkable insight.’ – Ken Binmore, University College London, UK

The late Martin Shubik, formerly Seymour H. Knox Professor of Mathematical Institutional Economics, Cowles Foundation for Research in Economics, Yale University, US