Hierarchically Structured Economies 87 by replacing the (generailly impossible)

by replacing the (generailly impossible) computation of a precise solution by a convenient asymptotic approximation

and subjected to structure elucidation by the modem methods of physical chemistry

die ausführlich in diesem Kapital behandelt werden

Research Developments

Die Studie befasst sich mit den Entscheidungen zu Übergangsbestimmungen

Hierarchically Structured Economies 87 by replacing the (generailly impossible)In six chapters this book introduces a micro economic model where trade takes place through a stable structure of bilateral exchange institutions. The main problem in such models is that, for well known equilibrium concepts, equilibrium may fail to exist in the corresponding game. In this work an adaptation of such models hierarchically structured economies is introduced. The possibilities and limitations of the use of the concept of subgame perfect