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Martin Shubik (March 24, 1926 - August 22, 2018) was an American economist, who was Professor Emeritus of Mathematical Institutional Economics at Yale University.
Work in economics
Before beginning his work in academia, Shubik studied at the University of Toronto and Princeton University. On the Yale faculty since 1963, Shubik specialized in strategic analysis, the study of financial institutions, the economics of corporate competition, and game theory. A collection of Shubik's papers, with an emphasis on his work with game theory, is housed at the Rubenstein Library at Duke University. He wrote 21 books 331 articles, including Political Economy, Oligopoly and Experimental Games, 1999, and The Theory of Money and Financial Institutions, 2004.
Shubik was born in New York and raised in Britain and Canada. He was one of three children. His siblings were Philippe Shubik, the cancer researcher and founder of the Toxicology Forum, and Irene Shubik, a British television drama producer.
^Martin Shubik, 1999. Political Economy, Oligopoly And Experimental Games: The Selected Essays of Martin Shubik, 2 v., Edward Elgar. DescriptionArchived 2012-05-24 at the Wayback Machine and several chapter-preview links: Part I Political Economy; Part II Oligopoly; Part III Gaming; Part IV Game Theory and Operations Research.
^Martin Shubik, 2004. The Theory of Money and Financial Institutions, MIT Press:
^Lloyd S. Shapley and Martin Shubik, 1971. "The Assignment Game I: The Core," International Journal of Game Theory, 1(1), pp. 111-130.
^Martin Shubik, 1971. "The Dollar Auction Game: A Paradox in Noncooperative Behavior and Escalation," Journal of Conflict Resolution, 15(1), pp. 109-111.
^o Martin Shubik, 1973. "Commodity Money, Oligopoly, Credit, and Bankruptcy in a General Equilibrium Model," Economic Inquiry, 11(1), pp. 24-38. o Martin Shubik and Charles Wilson, 1977. "The Optimal Bankruptcy Rule in a Trading Economy Using Fiat Money," Journal of Economics, 37(3-4), pp. 337-354. o Lloyd S. Shapley and Martin Shubik, 1977. "Trade Using One Commodity as a Means of Payment," Journal of Political Economy, 85(5), pp. 937-968.
^Martin Shubik, 1997. "Terrorism, Technology, and the Socioeconomics of Death,"
Comparative Strategy, 16(4), pp. 399-414.
1953. "A Comparison of Treatments of a Duopoly Situation," with J. P. Mayberry and J. F. Nash, Econometrica, 21(1), pp. 141-154.
1954. "A Method for Evaluating the Distribution of Power in a Committee System," with Lloyd S. Shapley, American Political Science Review, 48(3), pp. 787-792. Reprinted in A. Roth, ed., 1988. The Shapley Value: Essays in Honor of Lloyd S. Shapley. Cambridge, ch. 3, 41-48.
1959. Strategy and Market Structure: Competition, Oligopoly, and the Theory of Games, Wiley. Description and review extract.
1959. Edgeworth Market Games.
1960. "Game Theory as an Approach to the Firm," American Economic Review, 50(2), pp. 556-559.
1962. "Incentives, Decentralized Control, the Assignment of Joint Costs and Internal Pricing," Management Science, 8(3), pp. 325-343
1969. "On Market Games," with Lloyd S. Shapley, Journal of Economic Theory, 1(1), pp. 9-25.
1969. "On the Core of an Economic System with Externalities," with Lloyd S. Shapley, American Economic Review, 59(4, Part 1), pp. 678-684.
1970. "A Curmudgeon's Guide to Microeconomics," Journal of Economic Literature, 8(2), pp. 405-434.
1971. "The Assignment Game I: The Core," with Lloyd S. Shapley, International Journal of Game Theory, 1(1), pp. 111-130.
1977. "Trade Using One Commodity as a Means of Payment," with Lloyd S. Shapley, Journal of Political Economy, 85(5), pp. 937-968
1978. "Game Theory: Economic Applications," in W. Kruskal and J.M. Tanur, ed., International Encyclopedia of Statistics, v. 2, pp. 372-78.
1980. Market Structure and Behavior, with Richard Levitan, Harvard University Press. Review extract.
1981. "Game Theory Models and Methods in Political Economy," in K. J. Arrow and M. D. Intriligator, Handbook of Mathematical Economics, v. 1, pp. 285-330. Elsevier.
Game Theory in the Social Sciences, v. 1 & 2, MIT Press: