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This first volume in a three-volume exposition of Shubik's vision of mathematical institutional economics explores a one-period approach to economic exchange with money, debt, and bankruptcy.
Martin Shubik is Seymour Knox Professor of Mathematical Institutional Economics (Emeritus) at Yale University's Cowles Foundation and School of Management. He is the author of the three-volume work The Theory of Money and Financial Institutions (MIT Press) and other books. He is External Faculty of the Santa Fe Institute.