Friday, September 30, 2016

Lerner trade games

Assume a trading game
Re contracting continues
Until results conform to
Certain rules


Trades each period must balance

 QxP  for imports equals  QxP for exports

All Trade in and out runs thru a monopoly/  monopsony  cartel

    All proceeds from pricing adjustments  are returned to the factor owners in lump sums

To be continued. ....